Trading Price Action Reversals: Technical Analysis of Price Charts Bar by Bar for the Serious Trader (Wiley Trading)

Firstly, this book is NOT a 2nd edition of Dr. Brooks' first book, as was stated in a previous review. This book is the last installment in a 3 volume release from the author, and this book's Part 1, delivers a deep and detailed treatment of trading reversal setups. The prior two books (of this three volume release) addresses trading Trends and Trading Ranges respectively. Dr. Brooks' undisputed standing as the `Traders Author' gives this book a pedigree that is hard to beat. In this book he delivers eye-opening, seldom shared detail as he teaches the art of evaluating, entering and managing Reversal price action set-ups. It would not surprise me if there were traders/readers that find this depth of coverage a little overwhelming. If you are looking for a drive-thru experience, my guess is there are many books better suited for that `wham-bam-thank-you-for-giving-me-nothing-I-can-really-use-ma'am' depth of coverage, and speed of read. Perhaps the slew of con-artists selling their no-miss, no-think, no-work from you training packages have duped us into thinking that education and entertainment are the same, and that material should be characterized by PowerPoint type delivery of charts with simple to digest bullet points at the bottom. The standard by which books of this nature are measured should be the real world usability of its content and the clarity of the explanations and not how effortless and quick a read the material is. If this or any book helps me to take on some of the best academically trained, behaviorally-disciplined and infrastructurally well-armed adversaries in the world, and beat them, and it does, then any effort is worth it. Stop dreaming, your adversaries are out to take your lunch, and Dr. Brooks amazing wealth of knowledge which he shares in this book for $45, is a godsend. Do not be discouraged by comments of 'excessive detail' and instead, devour every morsel of the immense experience of one of the most technically astute and disciplined trading masters willing to divulge what he actually does. Decades of experience are distilled into well-structured opening discussions in each chapter, followed by charts and further explanations allowing the reader to see how a real-world trading master puts this theory into practice. And IF it gets `wordy', what do you expect, he is covering 30 years of knowledge. As I said before, the book is well structured, first presenting the reader with both a list of, and detailed discussions of the attributes of strong reversals. This is cleverly done in isolation from any one chart pattern, allowing the reader to fully grasp this material. With that done, the reader is then taken through each major `price action scenario' (classic chart pattern) in which reversal set-ups occur, which he covers starting from chapter 3 through to chapter 10. Again this is the 3rd of three books, and having completed Reversals (in Part 1), the author moves onto consolidating this material with those strategies covered in the first two books, viz Trends and Trading Ranges, into what can broadly be referenced as `Putting It All Together' (although this is specifically what he called Part 4). Yes, there is an immense amount of seldom shared insight and detail, and if some things get repeated as he discusses chart after chart in its entirety, forcing the reader of reaffirm previously covered material, strengthening understanding, while being guided through newer concepts...damn that goose for laying more than one golden egg !!! (apologies Dr. Brooks, I was speaking metaphorically of course ').

I've read Al Brooks' book called Trading Price Action Reversals, and it is easily the most detailed book that I've read on the topic of reading price action. This is not an easy read on the subject of price action, and it is a PhD level dissertation on the topic. The book is so detailed, just like the Trading Ranges and the Trends books, and it will be slow and clumsy to read, so take your time. It could easily take a month to read this book, but it will explain so much that it will pay for itself almost immediately. I do have some pointers on how to streamline the reading process (and it IS a process with Al Brooks' books!). 1) Get a highlighter pen and highlight tips and observations, but not individual chart information. For example, on page 137 you should highlight, "Spikes are tests of the strength of both the trend and countertrend traders", but do not highlight "In Figure 4.8, the bar 1, bar3, and bar 6 bear spikes...". If you were to highlight the detailed information from each chart you would go crazy and the books would be a coloring book filled with bright yellow highlighter pen, and you could go blind from that!! 2) Study the SPY/ES charts, and review Al Brooks' videos on YouTube. 3) Trade and review each setup on the chart. After reading any of Al Brooks' material, put the book down for a month, and then re-read it. This time just read the highlighted portions of the book. The book will be far more easily understood after you study SPY/ES charts and then pick up the book for a second time. 4) After reading and highlighting Al Brooks' book, you should then print out charts that you will likely trade. To study the charts, print them at random. For me, I trade the SPY, so I printed out random SPY charts from the last two years, and I printed out 2-Day charts with 5 Minute candles. You'll want to print out two day charts, since the previous day's price action influences the current trading day's price action. 5) Once you have a pile of 2-Day 5 Minute candle charts, cover up the second day with a sheet of paper so that you can't see it. Slowly move the sheet of paper to view each candle, one at a time, like you would see the trading day unfolding in real-time. Now verbalize each bar that you slowly expose, and write down your observations about each candle. Draw trend lines, wedges, and failed final flags as they are exposed by moving the paper slowly to the right. Draw long and short entries and stops, and record your results. This could take a while detailing what you see on each candle, but that will change the better you get. It took me 2 hours to get through my first chart like this. Do one of these each day. Don't worry, it gets faster!! 6) Review your detailed chart observations. You'll be amazed how much data you can pull out of each candle. Save your charts and your data, and pretty soon you'll have a whole pile of your own data and trade setups, Al Brooks style. My only real complaint about the book is that you don't get an independent diagram about what a failed final flag failure looks like, and it took a while to be able to visualize that pattern, and a few others. I've been trading the stock market since 1987, and these books answered a lot of questions right away, and helped my trading immensely. Reading price action has never been easier! Other resources you might want to consider would be Gap Edge Trading, as I made plenty of money trading in their chat room, and so have a lot of other people. Good luck and nail some reversals!!

This is third book of 3 volume set published by Dr. Brooks. This book explains in detail how to trade reversals using price action. I totally agree with the earlier review by Ashwin Ramphal. This book is a godsend for traders. As any trader would say, trading reversals is hard. It is certainly not for a newbie. But one has to learn to trade reversals, as the reward is huge. Dr. Brooks explains how to trade reversals with plenty of examples. After reading the book, first thing struck my mind is how deep is Dr. Brooks's trading knowledge. He has presented his immense knowledge about the markets in easily accessible form for other traders to take advantage of. I would suggest not to complete this book in one sitting. Take your time to understand what is discussed and finish the book over a period of time. You understanding of markets will vastly improve if you take time to understand what is discussed in this book. This book has a section which discusses how to put together every thing discussed in the 3 volume set. It has a chapter about option trading for those who are interested in trading options. Another chapter discusses best trades to take for newbie traders. IMHO, this chapter is priceless. I would also invite you to check out other 2 books in this series, Trading Price Action Trends: Technical Analysis of Price Charts Bar by Bar for the Serious Trader (Wiley Trading) and Trading Price Action Trading Ranges: Technical Analysis of Price Charts Bar by Bar for the Serious Trader (Wiley Trading) . I thank Dr. Brooks for the time and effort he spent in writing this treasure trove for traders.

Dr. Brooks' book is not an easy piece to read. In fact after first few pages I was tempted to put it back on a shelf. Unlike other authors who publish trading books Brooks started with one of the worst/boring/repetitive introductory chapters I have ever seen. However putting his boring writing style aside this is probably the best book on trading I have read. Al Brooks explains in great detail (with countless repetitions) the logic behind every price movements, he does excellent job putting in your head several basic principles of trading which usually you learn after you blow one or more accounts., E.g. most reversal attempts fail,most breakout attempts fails especially those that occur after a series of barbwire (doji) bars etc.... Finally, and what I like the most , he teaches you how to read emotions of traders on both sides of the trade. For example if there is a rally then bears suffer, they cover they shorts (he points to specific bars when most of the covering occurs) and this leads to sustained move up. Bulls smell bears' pain and add to their positions, making sure that rally keeps its momentum. To an experienced trader those things are obvious but I can guarantee that after spending few days/weeks with this book you will develop new perception of the markets and many things that baffled you before will start making sense. Although the repetitions in the book may seem annoying they actually help a lot because if the same key information appears all over the text there is a high probability that you will memorize it after just one reading. If you are real beginner though this is not the book for you. You may buy it but most likely you will end up frustrated with some of the terminology Brooks uses. For beginners I would recommend "Mastering the Trade" by John Carter - which is a real pleasure to read because of John's lucid and entertaining writing style. But before fully embracing Carter's trading methods (he appears to be a bit of the indicator junkie) you should read and understand what Brooks has to say.

The information in this and the rest of the Trading Price Action series is astonishingly good. So good, that despite the horrible quality of the paper and printing I cannot give it any less than four starts. The physical quality of this book is very lacking. The paper is extremely thin, you can easily see the print from the other side of the page. This is the kind of book that requires careful study, so many readers (including myself) may find it useful to highlight and take notes as they go along. However, the paper is so thin that highlighting becomes a delicate art, and much of the margin area is covered up by ink from the other side of the page.

This book is well-written, honest, and insightful. It's a real trader's book. It's not cohesive per se, or selling some cheesy "system" which wouldn't work anyway. It's more like having lunch with a successful trader and soaking up the "vibe" and attitude by osmosis. He really gives you a good sense of how to "see" the chart and manage your emotions and risk, without ever actually come out with a list of bulleted points to follow, It's very subtle and breezy, and has a real trader's vibe to it. Not for the beginner however. If you, like me, have been trading for over a decade, you will probably enjoy it greatly, otherwise, it would be too overwhelming and formless to be of value for you quite yet. I hope there are more of these advanced trader books to come!

Fantastic book. The next day after I started taking notes from this book, I started making more money. One critical sentence from the book goes like this... "The most useful tools for understanding price action are trend lines and trend channels, prior highs and lows, breakouts and failed breakouts, the sizes of bodies and tails on candles, and relationship between the current bar to the prior several bars." This is only 1 sentence and it caused me to more carefully look at the prior several bars and even the sizes of bodies and tails on the candles. That is how I am able to read the market much better. Fantastic book so far

Excellent for the Serious Trader, Bar by Bar

Al Brooks beschreibt präzise die Logik und Mathematik der price action. Der Stil ist etwas überfordert und Al Brooks wiederholt sich oft. Die Informationen in dem Buch sind aber unwahrscheinlich wertvoll! Besonders gut finde ich die Beschreibung der Marktpsychologie. Es hat mir geholfen, die Bewegungen des Marktes besser zu verstehen. Damit erschließt sich mir auch, warum die price action so zuverlässig funktioniert. Aber Al Brooks beschreibt auch: Das Verstehen des Marktes ist das eine, erfolgreiches traden noch etwas ganz anderes...

Do not buy this book! It is a disaster. The negative reviews are correct. It is unreadable and I really doubt Al Brooks trades at all.

This incredible trilogy (Trends, Ranges, Reversals) is a must for any price action trader!! It’s in the podium along with Bob Volmans’ book (more FX oriented). These 3 books are a price action masterpiece. Very specialized in the E-mini 5 m chart, which is ideal for a day trader or scalper, but the same principles can be applied on major global markets. For example, NDX100 looks very similar to S&P500. Once you have read the classic basic books which are for free on the internet (candlestick patterns, support, resistance, trendlines, supply-demand zones, etc..), then these 3 books are highly recommended. If you are a beginner, it might be difficult to get all the contents at once. In my opinion, it shouldn’t be the first book you read in this field. For me the 3 books are perfect. Just one thing is missing from my point of view: more graphical analysis (where to place the entries, SL and exits), as trading is more graphical than literary. The most important aspect of the books is that Al teaches you to understand what’s happening in the market, and then, you decide where you place your stops, exits or entries. As in trading nobody has “The Truth”, the book’s written in a way that it’ll make you understand that every trader is unique, but the market’s the same for all. He teaches you; how two different traders can be winners at the same time, in opposite directions whether you are a bull or a bear. Both understand the market, both see clearly its structure and even taking opposite trades, they can be both winners, depending on their risk management, chart speed, etc. The most important thing to keep in mind is that: HE TEACHES YOU TO UNDERSTAND HOW MARKET MOVES. Besides Volman’s book (FX), I’ve never read something similar. I’m giving 5 stars, even if I was expecting at least 200 charts graphically analyzed rather than explained. If you have persistence and time, these 3 books ARE A MUST!!

Ótimo livro.

Perfect