Divided into five comprehensive parts, Trading Price Action Trading Ranges 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, it touches on some of the most essential aspects of this approach, including:
- Trading breakouts, which are transitions from trading ranges to trends, and understanding the gaps they create
- The two types of "Magnets," Support and Resistance, and what they mean once the market breaks out and begins its move
- Pullbacks, which are transitions from trends to trading ranges
- The characteristics commonly found in trading ranges—areas of largely sideways price activity—and examples of how to trade them
- Honing your order and trade management skills so that you can make more informed entry and exit decisions
- And much more
Trading is a rewarding endeavor, but it's hard work and requires relentless discipline. To succeed, you have to stick to your rules and avoid emotion—and you have to patiently wait to take only the best trades. Understanding, and utilizing, the information found in Trading Price Action Trading Ranges is the next logical step to achieving this goal. With this guide, and the other two books in the series, you'll discover how to develop the patience and discipline to follow a sound system, and reap potentially huge financial rewards in the process.
About the AuthorAl Brooks is a technical analysis contributor for Futures magazine and an independent day trader. His approach to reading price charts was developed over two decades in which he changed careers from ophthalmology to trading. Brooks graduated from The University of Chicago Pritzker School of Medicine in 1978 and received a BS in mathematics with honors from Trinity College in 1974. His website, brookspriceaction.com, outlines his trading approach and views as well as hosts a subscription-based daily trading chat room in which Brooks talks with other traders about the market.