Reading Price Charts Bar by Bar

The Technical Analysis of Price Action for the Serious Trader (Wiley Trading, Book 416)

By: Al Brooks

Narrated by: Mike Fraser

Length: 14 hrs and 38 mins

Publisher's summary

While complex strategies and systems may work for some traders, understanding price action is all you really need to succeed in this arena. Price action analysis is an effective approach to trading today's markets whether you're involved in stocks, futures, or options. It allows you to focus on the process of trading without being overwhelmed by a complicated collection of trading techniques. And while this method may appear elementary, it can significantly enhance returns as well as minimize downside risk.

One way to apply price action analysis to your trading endeavors is with chart patterns. Nobody understands this better than author Al Brooks, a technical analyst for Futures magazine and an independent trader for more than 20 years. Brooks discovered ten years ago that reading price charts without indicators proved to be the most simple, reliable, and profitable way for him to trade. Mastering that discipline is what made him consistently successful in trading. Now, with Reading Price Charts Bar by Bar, Brooks shares his extensive experience on how to read price action.

At the end of the day, anyone can look at a chart, whether it is a candle chart for E-mini S&P 500 futures trading or a bar chart for stock trading, and see very clear entry and exit points. But doing this in real time is much more difficult. Reading Price Charts Bar by Bar will help you become proficient in the practice of reading price action through the use of trendlines and trend channel lines, prior highs and lows, breakouts and failed breakouts, and other tools and show you how this approach can improve the overall risk-reward ratio of your trades.

Written with the serious trader in mind, this reliable resource addresses the essential elements of this discipline, including the importance of understanding every bar on a price chart, why particular patterns are reliable setups for trades, and how to locate entry and exit points as markets are trading in real time. Brooks focuses on five-minute candle charts to illustrate basic principles, but discusses daily and weekly charts as well. Along the way, he also explores intraday swing trades on several stocks and details option purchases based on daily charts revealing how using price action alone can be the basis for this type of trading.

There's no easy way to trade, but if you learn to read price charts, find reliable patterns, and get a feel for the market and time frame that suits your situation, you can make money. While price action trading doesn't require sophisticated software or an abundance of indicators, this straightforward approach can still put you in a better position to profit in almost any market. Reading Price Charts Bar by Bar will show you how.

PLEASE NOTE: When you purchase this title, the accompanying PDF will be available in your Audible Library along with the audio.

©2009 Al Brooks (P)2023 Echo Point Books & Media, LLC

The book to top all price action books!!!!!

This book with it being challenging to read is BY FAR THE BEST PRICE ACTION BOOK OUT THERE!!!!!! If you want to be a serious profitable trader, you will take this book like it’s the Bible to price action. Good luck and my you achieve your dreams!!!!

A Must Read and Re-read

I am so thankful I discovered this book. It has completely changed the way I look at the markets and interpret the charts. I will be going through this book again and again as well as his other books. I highly recommend this book to anyone that is serious about trading and making a living at it. Best book on trading that I have ever read!

Great Book!

Al Brooks is the best there is on price action trading! Don't miss this book.

Must own book and audible

Thank you to whoever decided that it was time to put this on audible. I really hope Al decides to add his news books to the Audible library as well. BE WARNED this is a difficult read, I would have never made it through the book without the Audible, have both! Even still this is one of my all time favorites on price action, fantastic book! A rare jewel from a master of our time.

Great book

I listening to this while reading the book. It helps drive the charts home.

Great book

I have read this book and the following books as well and could not suggest them strongly enough to someone looking to understand short term market cycles. I am super excited that these books are finally making it on to audible and will listen to them several times. I am having trouble with the accompanying PDF, it just says please wait for it to download. I have removed the book from my device and redownloaded it and am still having the same issue. the narrator is doing a great job from what I have listened to so far but his British accent can be slightly difficult to understand sometimes. The accent is me nitpicking, I still strongly recommend this book and all of Al Brook's work, course, YouTube channel, all of it. Hopefully I can figure out the PDF/ it gets fixed very soon.

UPDATE: I was able to get the PDF to download after I removed the title from my device, force stopped the app then re opened the app, redownloaded the title and it work fine. audible support gave me a quick response also.

The BEST book on Price Action - A MUST BUY

I'm a profitable trader and this book was the game changer that elevated me to the next level. Friendly advice: Go through it slowly, pause the book and spend the necessary time to completely understand the chart examples. Use the glossary for some of the terminology that is unique to the author and don't give up. It took me several attempts to get through it, but it is worth every minute of your time. Combining the teachings from the book, fair value gaps and order blocks plus extensive studying of trading psychology is the path to profitability. Zero indicators needed and it works for every asset class - stocks, indices, forex and crypto.

Best trading book

I cannot wait to buy the other two yet to come. Al's book has changed my trading and I really want to thank him for the great book.