Hello instructors and fellow traders.
Eric, I've long appreciated your work at Mack's forum. Just beginning this course, which, so far, is proving to be an excellent "master class" of sorts in Mack's PATS - my suggestion to anyone wanting to learn price action purely from a chart-reading perspective is to get Mack's manual and start there, then come here to really dig into the meat of it. I've only begun and after just going through the "Initial Considerations" several basic and critical concepts have already become much clearer. Kudos on the PAL!
With that said, I have a slight, and maybe even non-sequitor, question: I've seen similar systems where the bar that breaks beyond the previous bar is refered to as the "entry bar," but in this course the previous bar is labeled as such. The fundamentals are the same i believe, but I wonder if this affects the pedagogy in some way, or if there is a benefit to labeling the "entry bar" one way or another beyond the benefit of ensuring I'm reading the same sheet of music?
I hope that made sense.
Harold
Entry Bars
Re: Entry Bars
Thank you for the compliment!
As the signal bar is anchored at the high or low of the local price action, the entry bar will be when prices move 1 tick beyond the signal bar.
While other variations can be included, this as the foundation really clarifies things and allows for the individual to begin to "read" what is happening while removing complexity.
Good trades to you!
As the signal bar is anchored at the high or low of the local price action, the entry bar will be when prices move 1 tick beyond the signal bar.
While other variations can be included, this as the foundation really clarifies things and allows for the individual to begin to "read" what is happening while removing complexity.
Good trades to you!
Re: Entry Bars
Thank you very much for that. The way you described is the way I prefer. I think it helps me get better entries. The other way I think had me looking for pattern confirmation rather than entry signal. I noticed I was missing a lot of good trades waiting for the pattern to show, if that makes sense..
It's crazy how much better I'm reading the chart already and I haven't even got into the meat of the lectures yet.
God bless you, man. And Taylor, Tobias, and whomever else was in on putting this together. Well done!
It's crazy how much better I'm reading the chart already and I haven't even got into the meat of the lectures yet.
God bless you, man. And Taylor, Tobias, and whomever else was in on putting this together. Well done!