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Al Brooks BrooksTradingCourse.com Scalping the Emini open BrooksTradingCourse.com BrooksPriceAction.com

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Al Brooks BrooksPriceAction.com Live Emini trading room BrooksTradingCourse.com BrooksPriceAction.com

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When does opening range end? No specific time, usually before 8:30 am PST As early as first bar or as late as 10 am With breakout, if day starts with TR With TR, if day starts with BO BrooksTradingCourse.com BrooksPriceAction.com

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Why trade the opening range? 90% chance of swing trade 4 points or more profit Reward at least twice risk Strong swing = best math for scalp BrooksTradingCourse.com BrooksPriceAction.com

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Either high or low of day forms in First 5 minutes on 20% of days First 35 minutes on 50% of days First 2 hours on 90% of days BrooksTradingCourse.com BrooksPriceAction.com

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Goal of most traders Find one or more swing trades But, many traders scalp while waiting BrooksTradingCourse.com BrooksPriceAction.com

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How many scalp setups? Great scalpers see setups on every bar! Take 20 or more trades a day Most traders should focus on swings Take only occasional scalps BrooksTradingCourse.com BrooksPriceAction.com

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Scalps during 1 st hour Very difficult to make money scalping Better to look for swing Best scalps are also swingsso swing!! BrooksTradingCourse.com BrooksPriceAction.com

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Main reason to avoid scalps Requires quick thinking and quick ACTION! If cannot exit quickly when wrong, dont scalp If cannot quickly reverse mindset, dont scalp BrooksTradingCourse.com BrooksPriceAction.com

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When wrong, exit quickly! Always have a plan to exit Have stops in market, not in head Stops protect you from yourself! BrooksTradingCourse.com BrooksPriceAction.com

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If TR becomes trend, trade like trend! BrooksTradingCourse.com BrooksPriceAction.com

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PB below bottom of bull breakout If initial tight trading range has bull BO PB can fall below bottom of bull leg Look to buy Reversal up Below TR with limit order BrooksTradingCourse.com BrooksPriceAction.com

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Buy more below! BrooksTradingCourse.com BrooksPriceAction.com

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Enter with stops or limit orders? Trading range = limit orders = bet breakouts fail Trend = stop orders = bet breakout succeed BrooksTradingCourse.com BrooksPriceAction.com

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First few bars often tell if Trend day Trading range day BrooksTradingCourse.com BrooksPriceAction.com

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Trend from the open BrooksTradingCourse.com BrooksPriceAction.com

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Trend from the open BrooksTradingCourse.com BrooksPriceAction.com

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Trading range day BrooksTradingCourse.com BrooksPriceAction.com

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Limit order open BrooksTradingCourse.com BrooksPriceAction.com

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Dojis, tight trading range, at MA BrooksTradingCourse.com BrooksPriceAction.com

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Signs of strong trend Consecutive strong trend bars Strong reversal bar if gap Strong breakout from TR price action BrooksTradingCourse.com BrooksPriceAction.com

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3 consecutive bear bars, 3 rd one = strong BrooksTradingCourse.com BrooksPriceAction.com

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Strong bull reversal bar, good context BrooksTradingCourse.com BrooksPriceAction.com

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Consecutive trend bars, but bad context Unlikely to form trend More likely will reverse Likely will form opening reversal BrooksTradingCourse.com BrooksPriceAction.com

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Dojis, tight trading range, at MA BrooksTradingCourse.com BrooksPriceAction.com

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Reversals are common Market always searches for direction Probes up and down Needs to find out what is too far Most days, first direction is wrong Initial move creates opening reversal BrooksTradingCourse.com BrooksPriceAction.com

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Opening reversals Strong, quick test of support or resistance Creates tail on most trend bars on daily chart BrooksTradingCourse.com BrooksPriceAction.com

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Opening reversal at 60 min MA BrooksTradingCourse.com BrooksPriceAction.com

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Opening reversal at yesterdays low and high BrooksTradingCourse.com BrooksPriceAction.com

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Always look for Major trend reversal Breakout or failed breakout of anything: Swing high or low including high or low of yesterday Trend line Trading range or channel Moving average BrooksTradingCourse.com BrooksPriceAction.com

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Is trend continuing or failing? Is breakout continuing from 1 st bar or failing (reversing)? If failing, is market just pulling back and about to resume breakout? BrooksTradingCourse.com BrooksPriceAction.com

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Swing begins with strong signal bar Bull swing usually begins with Bull body Close at or near high of bar Bear swing usually begins with Bear body Close at or near low of bar BrooksTradingCourse.com BrooksPriceAction.com

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Strong buy signal bar BrooksTradingCourse.com BrooksPriceAction.com

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Strong sell signal bar BrooksTradingCourse.com BrooksPriceAction.com

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If no clear signal bar Wait for strong breakout up or down 1 big trend bar, especially with follow-through 3 5 smaller consecutive trend bars BrooksTradingCourse.com BrooksPriceAction.com

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Strong breakout after bad signal bars BrooksTradingCourse.com BrooksPriceAction.com

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Opening reversal at MA after gap up BrooksTradingCourse.com BrooksPriceAction.com

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Opening range setups BrooksTradingCourse.com BrooksPriceAction.com

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Double bottom, PB to MA BrooksTradingCourse.com BrooksPriceAction.com

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Wedge, big Low 2 BrooksTradingCourse.com BrooksPriceAction.com

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LL MTR = Lower Low Major Trend Reversal BrooksTradingCourse.com BrooksPriceAction.com

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HL MTR, DB BrooksTradingCourse.com BrooksPriceAction.com

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Trading the open BrooksTradingCourse.com BrooksPriceAction.com

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Trading the open BrooksTradingCourse.com BrooksPriceAction.com

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Parabolic wedge on open BrooksTradingCourse.com BrooksPriceAction.com

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Endless pullback, then reversal BrooksTradingCourse.com BrooksPriceAction.com

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A week of trading the SPY opening range Pay attention to yesterday Look for reversals, breakouts, and failed breakouts Look to swing, using usual management BrooksTradingCourse.com BrooksPriceAction.com

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Monday BrooksTradingCourse.com BrooksPriceAction.com

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Monday BrooksTradingCourse.com BrooksPriceAction.com

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Tuesday: after sell climax, expect rally BrooksTradingCourse.com BrooksPriceAction.com

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Now 2 big bull bars BrooksTradingCourse.com BrooksPriceAction.com

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Management of initial long BrooksTradingCourse.com BrooksPriceAction.com

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Buy closes, probable MM up BrooksTradingCourse.com BrooksPriceAction.com

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New BO so raise stop BrooksTradingCourse.com BrooksPriceAction.com

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Buy failed reversal attempts BrooksTradingCourse.com BrooksPriceAction.com

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Management of initial long BrooksTradingCourse.com BrooksPriceAction.com

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Spike and channel, MM, top of TR, 2LU BrooksTradingCourse.com BrooksPriceAction.com

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Management of initial long BrooksTradingCourse.com BrooksPriceAction.com

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Wednesday: gap above TR BrooksTradingCourse.com BrooksPriceAction.com

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Wednesday BrooksTradingCourse.com BrooksPriceAction.com

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Wednesday BrooksTradingCourse.com BrooksPriceAction.com

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Wednesday BrooksTradingCourse.com BrooksPriceAction.com

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Wednesday BrooksTradingCourse.com BrooksPriceAction.com

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Thursday: TR open, AIL BrooksTradingCourse.com BrooksPriceAction.com

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Thursday: FOMC report BrooksTradingCourse.com BrooksPriceAction.com

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Friday: Follow-through buying BrooksTradingCourse.com BrooksPriceAction.com

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Friday: parabolic wedge, buy climax BrooksTradingCourse.com BrooksPriceAction.com

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Al Brooks BrooksTradingCourse.com Scalping the Emini open BrooksTradingCourse.com BrooksPriceAction.com