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Praise for Trading Price Action Trading Ranges "Al Brooks has written a book every day trader should read. On all levels, he has kept trading simple, straightforward, and approachable. By teaching traders that there are no rules, just guidelines, he has allowed basic common sense to once again rule how real traders should approach the market. This is a must-read for any trader that wants to learn his own path to success." Noble DraKoln, founder, SpeculatorAcademy.com, and author of Trade Like a Pro and Winning the Trading Game "A great trader once told me that success was a function of focused energy. This mantra is proven by Al Brooks, who left a thriving ophthalmology practice to become a day trader. Al's intense focus on daily price action has made him a successful trader. A born educator, Al also is generous with his time, providing detailed explanations on how he views daily price action and how other traders can implement his ideas with similar focus and dedication. Al's book is no quick read, but an in-depth road map on how he trades today's volatile markets, complete with detailed strategies, real-life examples, and hard-knocks advice."Ginger Szala, Publisher and Editorial Director, Futures magazine Over the course of his career, author Al Brooks, a technical analysis contributor to Futures magazine and an independent trader for twenty-five years, has found a way to capture consistent profits regardless of market direction or economic climate. And now, with his new three-book series which focuses on how to use price action to trade the markets Brooks takes you step by step through the entire process. In order to put his methodology in perspective, Brooks examined an essential array of price action basics and trends in the first book of this series, Trading Price Action TRENDS. Now, in this second book, Trading Price Action TRADING RANGES, he provides important insights on trading ranges, breakouts, order management, and the mathematics of trading. Page by page, Brooks skillfully addresses how to spot and profit from trading ranges which most markets are in, most of the time using the technical analysis of price action.Along the way, he touches on some of the most important aspects of this approach, including trading breakouts, understanding support and resistance, and making the most informed entry and exit decisions possible. Throughout the book, Brooks focuses primarily on 5 minute candle charts all of which are created with TradeStation to illustrate basic principles, but also discusses daily and weekly charts. And since he trades more than just E-mini S&P 500 futures, Brooks also details how price action can be used as the basis for trading stocks, forex, Treasury Note futures, and options.

Table of Contents

Acknowledgments                                    xi
        List of Terms Used in This Book            xiii
Introduction                                       1   (34)
  PART I Breakouts: Transitioning into a New       35  (104)
  Trend
    Chapter 1 Example of How to Trade a Breakout   53  (8)
    Chapter 2 Signs of Strength in a Breakout      61  (20)
    Chapter 3 Initial Breakout                     81  (10)
    Chapter 4 Breakout Entries in Existing         91  (8)
    Strong Trends
    Chapter 5 Failed Breakouts, Breakout           99  (20)
    Pullbacks, and Breakout Tests
    Chapter 6 Gaps                                 119 (20)
  PART II Magnets: Support and Resistance          139 (44)
    Chapter 7 Measured Moves Based on the Size     153 (12)
    of the First Leg (the Spike)
    Chapter 8 Measured Moves Based on Gaps and     165 (10)
    Trading Ranges
    Chapter 9 Reversals Often End at Signal        175 (4)
    Bars from Prior Failed Reversals
    Chapter 10 Other Magnets                       179 (4)
  PART III Pullbacks: Trends Converting to         183 (144)
  Trading Ranges
    Chapter 11 First Pullback Sequence: Bar,       205 (8)
    Minor Trend Line, Moving Average, Moving
    Average Gap, Major Trend Line
    Chapter 12 Double Top Bear Flags and Double    213 (20)
    Bottom Bull Flags
    Chapter 13 Twenty Gap Bars                     233 (6)
    Chapter 14 First Moving Average Gap Bars       239 (6)
    Chapter 15 Key Inflection Times of the Day     245 (8)
    That Set Up Breakouts and Reversals
    Chapter 16 Counting the Legs of Trends and     253 (6)
    Trading Ranges
    Chapter 17 Bar Counting: High and Low 1, 2,    259 (42)
    3, and 4 Patterns and ABC Corrections
    Chapter 18 Wedge and Other Three-Push          301 (12)
    Pullbacks
    Chapter 19 Dueling Lines: Wedge Pullback to    313 (6)
    the Trend Line
    Chapter 20 "Reversal" Patterns: Double Tops    319 (8)
    and Bottoms and Head and Shoulders Tops and
    Bottoms
  PART IV Trading Ranges                           327 (90)
    Chapter 21 Example of How to Trade a           367 (10)
    Trading Range
    Chapter 22 Tight Trading Ranges                377 (34)
    Chapter 23 Triangles                           411 (6)
  PART V Orders and Trade Management               417 (154)
    Chapter 24 Scalping, Swinging, Trading, and    419 (18)
    Investing
    Chapter 25 Mathematics of Trading: Should I    437 (44)
    Take This Trade? Will I Make Money If I
    Take This Trade?
    Chapter 26 Need Two Reasons to Take a Trade    481 (10)
    Chapter 27 Entering on Stops                   491 (2)
    Chapter 28 Entering on Limits                  493 (24)
    Chapter 29 Protective and Trailing Stops       517 (18)
    Chapter 30 Profit Taking and Profit Targets    535 (8)
    Chapter 31 Scaling Into and Out of a Trade     543 (24)
    Chapter 32 Getting Trapped In or Out of a      567 (4)
    Trade
About the Author                                   571 (2)
About the Website                                  573 (2)
Index                                              575