Trading Price Action Trading Ranges: Technical Analysis of Price Charts Bar by Bar for the Serious Trader 1st Edition

Firstly, I find the view of the reviewer who thought this book could be summed as the author `simply venting' laughable to say the least.This book, as well as the other two, are not written for the weekend warrior trader. It is not written for the `I'll dabble a little with this technique or that'. It is not a book that you will be able to read leisurely and glean an arsenal full of easy money making strategies from, because that's not the trading world we live in....ask the slew of traders who are yet to produce a cent from their easy to make money, proprietary course material, the army of traders hopping from one room to the next hoping the next subscription will yield the holy grail of guru's, the one to take them to the land of above-water P&L's, with little work on their own.This and the other two books are however written for the trader who intends to work through this material, not simply read it. We have all heard that the markets spend most of their time in trading ranges, yet the bulk of the material out there, does little to dig deep into both the subtle nuances as well as gaping wide messages from the market when it comes to `trading in the trenches', which is what I call trading range price action.Trading in trading range price action is far different from the mono-directional trending market price action. It is as different in reaction time and size of signals, as cage-fighting is from archery. Quick recognition of entry opportunities, identifying high probability targets, and assessing in real-time, the market's ability to hit those targets define the define the required skill sets for elite scalping and shorter-term swing trades that are to be found in trading ranges. This book gets into the heart of those very skills, and delivers on teaching the trader these coveted skills.The book has a plethora of very insightful and implementable lists, helping the trader to assimilate the information into their trading plans. I'll mention but a few examples, of which, again there are literally dozens....1. Characteristics of strong trends2. Characteristics of string breakouts3. Signs of breakouts that will fail4. etc, etc, etcExtremely insightful, you bet, but, equally important to knowing how to spot strong entry environments, is knowing how not to be squeezed out on a pullback which for example the author provides on pg 101, "Areas that are often tested by the pullback". This not only guides traders to avoid missing out of the bigger part of the move, but also helps in the intelligent placement of stops. Again, this prior example is just mentioned to illustrate the point I made above of the author getting into practical, highly implementable details.This is the most practical treatment of the concept of Measured Moves that I have encountered. The authors' approach avoids the pitfalls of over-extending the information provided by Fibonacci Extensions/Retracements, Elliott Waves etc, and presents it in a manner that works. One only has to watch the deadly precision with which the author draws trend lines and sets targets, to which moves accelerate and then reverse, which he does constantly during his live trading if you need more proof of the efficacy of the material in this section, as well as the section on Magnets.His clinical handling of the concept around Trading Math, and the advanced trading approach of entering `against the short-term market' on limit orders is worth this books' weight in gold alone.I could go on, but hopefully you get the point. This is a handbook of techniques, a syllabus of hand-to-hand combat of the elite scalpers, the Seal Team 6 of traders. You don't read this book any more than you would watch a workout video and expect to become an elite warrior. You bleed though the bootcamp, and come out hardened, and ready for anything the institutions, quants and HFT programs can throw at you. You don't read this book, you print the charts (Wiley makes the pdf's available, refer to pg Pg 54) get a pencil in your hand and you go to work, its trading boot camp boys and girls and its not for the `feint of effort' traders.

This is the second of 3 volume set on price action by Dr. Brooks. This volume explains price action in trading ranges. As market spends most of time in trading ranges, it is essential for a trader to understand the price action in trading ranges.I would suggest to read the first volume in this set, Trading Price Action Trends: Technical Analysis of Price Charts Bar by Bar for the Serious Trader (Wiley Trading), before reading this book. Understanding price action in trends is relative easy and will set a strong foundation to understand price action in trading ranges.My suggested approach to read this book would be to read 1 or 2 chapters a day and ruminate about it overnight. This book contains wealth of information and requires some effort from the reader to fully understand what is discussed. This is not one of those fluffy trading books which you can read in a day and wonder what you learned. You will be amazed how much knowledge you gained after reading this book.Thank you Dr.Brooks for taking time to write these books and help so many traders like me.

Dear all,Please read book 1 (Trend) before reading this book.The reason is book 1 mentioned a few concepts which will be used in book 2.1. Channel (tight, broad and micro)2. Breakout bar3. Breakout modeTrading in trading range is more difficult than trend trading. There are 2nd leg trap, breakout fail, etc.I read this book for two times and review what AL has mentioned in book and video course. Apply the concept mentioned by him to avoid trap when trading high1/high2/low1/low2 (stop order) also with limit order.Trading range is difficult to trade, most people will give up and feel that the concept mentioned by AL cannot be applied.However, this may due to you have not understand the theory which he mentioned in the book completely.I suggest paper trading and apply the theory which mentioned in his book. Besides, this book is very difficult to read if you don't understand the theory mentioned in book 1 (trend).

Genius book. Just having photographic memory will help you advance so much

Good summary, it's the real trader's experience. Describe the patterns and setup very clearly, useful for real trading, thanks Al!

Must have one! The first book was with the same title "Trading Price Action" published a couple of years ago where Al tried to put so much information that hardly fit into. This book is a part of three books TPA: Trends, Trading Ranges, and Reversals. The first part that is may be 15-20 pages is the same in all three books and the rest if different. I am very thankful to the author on his time it took to put all his observations into his last three books. The title says bar by bar analyzing and this is exactly how it is in the book. The book printed in a very good big format where you can see every detail of the chart. Most of charts are very recent. Al provides a very good conclusion of what is happening behind every bar and the idea of what possibly will be next. All three are extremely helpful books!

Have only begun digging through this book but I can already tell that this will be a valuable tool. I originally purchased the Kindle version but realized I will be wanting to flip back and forth between pages a lot as I study and learn patterns and techniques so I returned the digital version and bought the hardbound. A very high quality bound book as well. Well binded and pages lay flat when it's open. No creasing pages as you turn. A real value over price.