Something Interesting in Financial Video September 2013 - page 6

Sergey Golubev  
Al Brooks' Moving Average Gap Bar Strategy

The basic elements of the strategy are as follows:

1. Identify a market that is in a bear trend on the 5 minute chart
2. Wait for a retracement in which the low of latest candle is above the 20 EMA
3. Go short, targeting the low of the day.

To be clear, Brooks' approach to price action trading is much more thorough; this strategy is just one tool in his arsenal.

Sergey Golubev  

Interview With Al Brooks, Price Action Day Trader

Here is a summary of some of the key points:

1. Brooks is a price action trader with 27+ years of experience.
2. He is an active day trader, trading off the 5 minute chart. He trades the entire day.
3. He has a purely technical approach, relying totally on price action with just a few moving averages.
4. His approach is entirely rules-based; he not use any discretion and does not consider relying on intuition.
5. He states his setups have worked for decades and continue to work.

Brooks' analysis relies on measuring movements (i.e. retracements), gauging the strength of trends, and analyzing candlesticks.

Brooks has authored a number of books on trading. Interested traders may find it worthwhile to check out his page on Amazon.

Sergey Golubev  
132. Why Choosing a Forex Broker is so Confusing

Learn how to sort through the chaos and confusion on the web to learn what forex brokers are best for individual currency traders.

Sergey Golubev  
133. Choosing a Forex Broker: Regulation and Financial Stability

What forex traders need to consider regarding the regulatory environment of the forex broker they trade with.