al-brooks-course
48E - Trading the Open
Raw transcript and slide notes for 48E - Trading the Open.
Overview
- Slides: 16
- Transcript segments: 382
- Status: 自动按 slide 时间线归档；核心概念和长期笔记可以在每个 slide 的
Study Notes下继续整理。
Source Media
Transcript 001
Time: 00:02
Bilingual Transcript
00:02 - 00:03
EN: This is Al Brooks.
ZH: 你好，我是阿尔·布鲁克斯
00:03 - 00:05
EN: Thank you for watching the Brooks Trading Course.
ZH: 欢迎观看布鲁克斯交易课程
00:05 - 00:08
EN: This is the fifth of six videos on trading the open.
ZH: 这是早盘的第5节课
Slide 001
Time: 00:11
Bilingual Transcript
00:13 - 00:18
EN: I want to talk about the market breaking out above yesterday’s high,
ZH: 我想讲的是：市场突破昨天的最高点或最低点失败，然后反转的模式
00:16 - 00:18
EN: or below yesterday’s low, and then reversing.
ZH: 我想讲的是：市场突破昨天的最高点或最低点失败，然后反转的模式
00:19 - 00:24
EN: That is a very common thing, and it’s a very common setup
ZH: 这很常见，而且经常能靠它在早盘抓到波段
00:22 - 00:24
EN: on the open that leads to a swing trade.
ZH: 这很常见，而且经常能靠它在早盘抓到波段
00:25 - 00:28
EN: Sometimes the market will break above yesterday’s high and reverse down,
ZH: 有时市场会突破昨天的高点，然后尝试反转下跌
00:28 - 00:33
EN: but the reversal fails and the breakout resumes and the market continues higher.
ZH: 但反转失败，于是突破继续，市场继续上涨
00:33 - 00:37
EN: That’s a failed reversal of a breakout of yesterday’s range.
ZH: 反转失败，代表突破成功
00:37 - 00:39
EN: The same can happen with the bottom.
ZH: 另外一边也是一样
00:39 - 00:41
EN: It can break below yesterday’s low and then reverse up,
ZH: 价格跌破昨天的最低点
00:41 - 00:45
EN: but the reversal does not get far and then the bear trend resumes.
ZH: 尝试反转上涨，但只是小反弹，然后下降趋势继续
Slide 002
Time: 00:47
Bilingual Transcript
00:49 - 00:52
EN: Here are a couple charts with breakouts.
ZH: 这里有两个早盘突破的案例
01:00 - 01:02
EN: The blue line is yesterday’s high.
ZH: 蓝线是昨天的最高点
01:02 - 01:08
EN: The market went above yesterday’s high and reversed down, but below a bull bar.
ZH: 市场突破了昨天的高点，然后反转下跌， 但大部分人不会在这根阳线下方挂突破卖单
01:06 - 01:08
EN: Most traders would not take that short.
ZH: 市场突破了昨天的高点，然后反转下跌， 但大部分人不会在这根阳线下方挂突破卖单
01:08 - 01:12
EN: It went above yesterday’s high again a second time and it reversed down again,
ZH: 价格再次突破昨天的高点，并再次反转下跌
01:12 - 01:15
EN: and this time with a bear bar closing on its low.
ZH: 这次有阴线收在最低
01:15 - 01:18
EN: That is a good setup for a swing short.
ZH: 是好的波段做空机会
01:18 - 01:21
EN: Traders sell with a stop 1 tick below the low of that bear bar,
ZH: 空头在那根阴线的低点下方1个tick挂突破卖单
01:21 - 01:23
EN: looking for a swing down.
ZH: 预期会有下跌波段
01:24 - 01:28
EN: A second entry of any trade has a higher probability of success.
ZH: 任何一笔交易，第2入场点总是有更高的成功率
01:28 - 01:32
EN: A bear bar closing on its low is a much better sell signal bar
ZH: 阴线收在最低，是好的做空信号K线
01:32 - 01:34
EN: than the bull bar here.
ZH: 比这根阳线更好
01:34 - 01:36
EN: Therefore, it’s a higher probability sell.
ZH: 所以在这里做空的胜率更高
01:37 - 01:46
EN: The very important point is that there are many ways
ZH: 关键是，很多交易机会都有第2入场点， 你必须准备好迎接这些机会
01:41 - 01:46
EN: for these second entry trades to set up, and you have to be open to anything.
ZH: 关键是，很多交易机会都有第2入场点， 你必须准备好迎接这些机会
01:46 - 01:49
EN: What you have to be focusing in on is a reversal,
ZH: 要时刻关注反转的机会
01:49 - 01:52
EN: and then a second reversal, no matter what it looks like,
ZH: 关注第2次反转——不管看上去如何，
01:52 - 01:55
EN: and you want the second one to have a good signal bar.
ZH: 最好第2次反转时有好的信号K线
02:02 - 02:04
EN: This blue line is yesterday’s low.
ZH: 蓝线是昨天的最低点
02:04 - 02:07
EN: The market traded below it and reversed up, but a bear bar.
ZH: 价格从它的下方反转上涨，但它是一根阴线
02:07 - 02:11
EN: Not a good buy signal bar, even though the market rallied pretty strongly.
ZH: 所以不是好的做多信号K，尽管市场大幅反弹了
02:11 - 02:15
EN: Then it broke below yesterday’s low again here and reversed up again,
ZH: 然后再次跌破昨天的低点，并再次反转上涨
02:15 - 02:18
EN: and this time a decent looking bull bar.
ZH: 这次有一根漂亮的阳线
02:18 - 02:19
EN: A bull bar closing on its high.
ZH: 阳线收在最高
02:19 - 02:24
EN: That is a higher probability buy, buying on a stop above that high.
ZH: 在它的高点上方挂突破买单做多，胜率更高
02:24 - 02:30
EN: Again, focus on the second reversal, and there are many ways it can happen.
ZH: 再次强调，要关注第2次反转，这样的机会到处都有
02:30 - 02:34
EN: Sometimes the bars can be 10 bars apart, sometimes just 2 or 3 bars apart.
ZH: 有时两次反转之间相隔10根K线，有时只相隔两三根K线
02:38 - 02:44
EN: Here’s another strong rally on the open that breaks
ZH: 这一天开盘大幅上涨，突破了昨天的最高点， 这里是第2做空入场点
Slide 003
Time: 02:40
Bilingual Transcript
02:41 - 02:44
EN: above yesterday’s high, and it’s a second entry short.
ZH: 这一天开盘大幅上涨，突破了昨天的最高点， 这里是第2做空入场点
02:44 - 02:46
EN: Can you see what I mean by the second entry short here?
ZH: 能理解为什么这里有第2做空入场点吗？
02:47 - 02:49
EN: The market went below the bear bar.
ZH: 这根阴线的低点被跌破了 （注：下方的突破卖单被触发，这是第1做空入场点）
02:49 - 02:55
EN: That’s a reasonable short, but with this many bull bars,
ZH: 做空是合理的，但左边那么多连续阳线， 更多交易者会等待第2做空入场点
02:52 - 02:55
EN: most traders would want a second entry short.
ZH: 做空是合理的，但左边那么多连续阳线， 更多交易者会等待第2做空入场点
02:55 - 02:59
EN: Then it rallied to a new high here and then reversed down a second time.
ZH: 价格上涨创新高，第2次反转下跌
02:59 - 03:01
EN: The second entry is below the low of this bull bar
ZH: 第2做空入场点是这根阳线的下方 （注：但大部分人不会在阳线下方挂突破卖单）
03:01 - 03:05
EN: or below the low of that bear bar, so Micro Double Top.
ZH: 或者在这根阴线的下方，可以看作是小双顶——
03:05 - 03:10
EN: It went down below this bear bar, it went up to a new high,
ZH: 这根阴线的低点被跌破，上涨创新高， 然后第2次反转下跌
03:08 - 03:10
EN: and then reversed down a second time.
ZH: 这根阴线的低点被跌破，上涨创新高， 然后第2次反转下跌
03:17 - 03:19
EN: A second entry for the sell signal.
ZH: 第2做空入场点的信号K线——
03:19 - 03:21
EN: Breakout above yesterday’s high.
ZH: 突破昨天的最高点
03:21 - 03:23
EN: A bull bar, not ideal.
ZH: 这根阳线不是最理想的做空信号
03:23 - 03:26
EN: A lot of traders prefer to sell below a bear bar,
ZH: 很多交易者更喜欢在阴线下方卖出做空
03:26 - 03:29
EN: which would be right here, and the bears got a couple legs down.
ZH: 也就是在这里，然后空头得到了两段下跌
03:35 - 03:38
EN: Micro Double Top, and therefore it’s a type of Low 2.
ZH: 小双顶，所以可以看作是低2
03:38 - 03:41
EN: The second high does not have to be above the first.
ZH: 第2个高点不一定要高于第1个
03:41 - 03:42
EN: Here it was.
ZH: 尽管这里是这样
03:42 - 03:44
EN: You’re simply looking for a second entry,
ZH: 关键是第2入场点
03:44 - 03:48
EN: the first one failing and then a second one forming.
ZH: 第1入场点失败了，正在尝试第2次反转
03:54 - 03:58
EN: After the first couple of hours, the market reversed up from a Wedge Higher Low.
ZH: 开盘两个小时后，形成楔形底反转上涨
03:58 - 04:03
EN: A gap up and a rally, and then a two-legged pullback to a Wedge Higher Low.
ZH: 跳空高开、高走，两段下跌，形成楔形底 （注：价格仍然高于起涨点，所以仍然可能是上涨趋势，或震荡区间）
04:03 - 04:05
EN: 3 big bear bars.
ZH: 三根大阴线
04:05 - 04:07
EN: A lot of traders will not take the first reversal up;
ZH: 很多交易者不会在第1次反转上涨时买入
04:07 - 04:09
EN: they’ll take the second reversal up.
ZH: 他们会等待第2做多入场点
Slide 004
Time: 04:15
Bilingual Transcript
04:19 - 04:20
EN: Yesterday’s high.
ZH: 红线是昨天最高点
04:20 - 04:24
EN: The market tried to reverse down
ZH: 价格尝试从昨天高点上方反转下跌， 但第1做空入场点的信号K是阳线
04:22 - 04:24
EN: from below yesterday’s high, but below a bull bar.
ZH: 价格尝试从昨天高点上方反转下跌， 但第1做空入场点的信号K是阳线
04:24 - 04:26
EN: Some traders would sell below the bear bar,
ZH: 一些空头会在这根阴线的下方卖出做空
04:26 - 04:29
EN: but with the 2 bull bars here, a lot of traders would wait.
ZH: 但由于开盘是连续两根阳线，所以很多交易者会等待
04:30 - 04:32
EN: The market resumed up, a High 2.
ZH: 价格恢复上涨，它是高2
04:32 - 04:35
EN: It went above the bull bar, and then above this bull bar after a gap up.
ZH: 第1根阳线的上方是高1，这根阳线的上方是高2
04:35 - 04:41
EN: Some bulls would buy that, but that big tail on the top
ZH: 一些多头会在这里买入做多，但由于上影线很长，很多交易者会犹豫
04:38 - 04:41
EN: of the buy signal bar would make a lot of traders hesitate.
ZH: 一些多头会在这里买入做多，但由于上影线很长，很多交易者会犹豫
04:41 - 04:43
EN: Then we got a bear bar here.
ZH: 然后出现了一根阴线
04:43 - 04:47
EN: First entry sell below a bull bar or below this big bear bar,
ZH: 第1做空入场点是在这根阳线，或者说这根阴线的下方
04:47 - 04:51
EN: and then this is a second entry for a failed breakout above yesterday’s high.
ZH: 这里是突破昨天高点失败后的第2做空入场点
04:51 - 04:55
EN: Above yesterday’s high, reversed down for a failed breakout,
ZH: 突破昨天高点，反转下跌
04:55 - 04:57
EN: and now we’re getting a second entry failed breakout
ZH: 现在是第2次突破失败后的反转下跌
04:57 - 04:59
EN: with a better-looking sell signal.
ZH: 而且有更好的做空信号K
Slide 005
Time: 05:05
Bilingual Transcript
05:08 - 05:08
EN: Yesterday’s high.
ZH: 红线是昨天的高点
05:08 - 05:10
EN: The market broke above it.
ZH: 高开在昨天高点上方
05:10 - 05:13
EN: It tried to reverse down here, but there was no stop entry sell.
ZH: 第1根K线下跌，但此时还没有用突破卖单入场的机会
05:14 - 05:16
EN: We’re looking for stop entry sells.
ZH: 我们主要讲如何用突破单入场
05:16 - 05:19
EN: The first entry is below this bull bar.
ZH: 这根阳线的下方是第1做空入场点
05:19 - 05:22
EN: You could argue that there’s a second entry below this bear bar,
ZH: 你可以说这根阴线下方是第2做空入场点
05:22 - 05:25
EN: but with the doji and the prominent tails
ZH: 但它是十字星，而且下影线很长，左边是3根阳线
05:24 - 05:30
EN: and the 3 bull bars here, a lot of traders would wait to see
ZH: 但它是十字星，而且下影线很长，左边是3根阳线 所以很多空头会等待更好的做空信号K线——比如这根阴线
05:28 - 05:30
EN: if they get a better sell signal bar – which they did here.
ZH: 所以很多空头会等待更好的做空信号K线——比如这根阴线
05:31 - 05:33
EN: So that would be a better sell.
ZH: 在它的下方做空更好
05:33 - 05:36
EN: They put their stop above the high of the sell signal bar,
ZH: 如果把止损放在做空信号K线的上方
05:36 - 05:41
EN: and this high got exactly to that high and did not go above.
ZH: 后面那个高点刚好等于这个高点， 不会打掉空头的止损
05:41 - 05:44
EN: Therefore, some traders would hold short, rely on their stops.
ZH: 所以一些空头坚定持有，依赖初始止损
05:44 - 05:48
EN: Others would say, ah, we’re breaking out above yesterday’s high
ZH: 一些人会想：突破了昨天的最高点
05:48 - 05:50
EN: and this is a two-legged pullback – one, pullback, two
ZH: 然后两段式回调——1，反弹，2
05:50 - 05:54
EN: - with a decent buy signal bar, and therefore some traders
ZH: 这根阳线是很好的做多信号K，
05:54 - 05:56
EN: who sold below here would exit above here.
ZH: 所以一些空头会在它的上方离场
05:56 - 05:59
EN: Other traders would buy above here, hoping for the low of the day.
ZH: 也有多头在它的上方买入做多，押注这就是今天的最低点
06:00 - 06:04
EN: When the market formed a Double Top here and turned down again
ZH: 然后市场形成双顶，再次反转下跌
06:04 - 06:08
EN: below this bear bar or below this bigger bear bar, a lot of traders would sell.
ZH: 空头会在这根阴线，或这根更大的阴线下方卖出做空
06:09 - 06:13
EN: It’s at that point a second entry sell, which is here,
ZH: 之前，它是第2做空入场点，第1个红色框框
06:13 - 06:16
EN: and then now you’re getting another second entry sell here,
ZH: 现在又是一个第2做空入场点
06:16 - 06:18
EN: and a Double Top Lower High.
ZH: 而且在前期高点下方形成双顶
06:18 - 06:22
EN: Double Top Lower High with good sell signal bars there and here,
ZH: 前期高点下方的双顶，它和它都是不错的做空信号K线
06:22 - 06:25
EN: a reasonable short for a swing down.
ZH: 做空押注波段下跌是合理的
06:26 - 06:33
EN: The traders who sold here, they could either put their stop just
ZH: 在这里入场的空头，可以把止损放在做空信号K线的上方， 这里正好不会被打掉，可以继续持有
06:29 - 06:33
EN: above the sell signal bar – it would not have been hit here;
ZH: 在这里入场的空头，可以把止损放在做空信号K线的上方， 这里正好不会被打掉，可以继续持有
06:33 - 06:36
EN: they could hold short – or they can get out above the bull bar,
ZH: 在这里入场的空头，可以把止损放在做空信号K线的上方， 这里正好不会被打掉，可以继续持有 或者可以在这根阳线的上方暂时先离场
06:36 - 06:41
EN: and then sell again once we have a Double Top triggering
ZH: 然后在双顶下跌时再次入场， 突破卖单在跌破这根阴线的时候会触发成交
06:40 - 06:41
EN: with a bear bar closing on its low.
ZH: 然后在双顶下跌时再次入场， 突破卖单在跌破这根阴线的时候会触发成交
06:41 - 06:44
EN: So they sell below that bar and get filled here.
ZH: 突破卖单挂在它的下方，在这里成交
Slide 006
Time: 06:50
Bilingual Transcript
06:50 - 06:51
EN: Take a look at this.
ZH: 来看这个案例
06:52 - 06:54
EN: Yesterday was a very small, quiet day.
ZH: 昨天几乎没有任何波动
06:54 - 06:58
EN: Whenever yesterday is a small day like that, there’s an increased chance
ZH: 当前一天是这样的行情，今天有更大的可能性是“外包日” （注：从日K线看，今天把昨天包含在内）
06:58 - 07:06
EN: that today will be an outside day – either trade below yesterday’s low
ZH: 要么先跌破昨天的最低点，再突破昨天的最高点； 或者先突破昨天的最高点，再跌破昨天的最低点
07:02 - 07:06
EN: and then above its high, or trade above its high and then below its low.
ZH: 要么先跌破昨天的最低点，再突破昨天的最高点； 或者先突破昨天的最高点，再跌破昨天的最低点
07:06 - 07:07
EN: Today it did both.
ZH: 今天两者都做到了
07:07 - 07:10
EN: It traded above the high and then below yesterday’s low,
ZH: 先突破了昨天的最高点，然后跌破了昨天的最低点
07:10 - 07:12
EN: and then back above yesterday’s high again.
ZH: 最后又涨回到昨天的最高点上方
07:13 - 07:16
EN: We went above yesterday’s high, and reversed down below a doji
ZH: 高开在昨天的最高点上方，第2根K线跌破了第1根十字星的低点
07:16 - 07:21
EN: - not a very good sell signal – and then we’re reversing down again,
ZH: 但它不是特别好的做空信号K； 然后第2次反转下跌
07:21 - 07:23
EN: this time below a bear bar closing near its low.
ZH: 这次有一根阴线收在最低
07:23 - 07:25
EN: That’s a higher probability sell.
ZH: 在它的下方入场做空胜率更高
07:25 - 07:28
EN: You could hold for a couple legs down.
ZH: 空头得到了两段下跌
07:28 - 07:30
EN: Most traders would get out above this bull bar.
ZH: 大部分人会在这根阳线上方离场
07:30 - 07:34
EN: Other traders will hold, stop above the high of the sell signal bar,
ZH: 也有空头会继续持有，止损放在做空信号K线的高点上方
07:34 - 07:37
EN: and see if the market ultimately breaks to the down side – which it did.
ZH: 押注市场最终向下跌破——确实下跌了
07:37 - 07:40
EN: This rally never went above the high of the sell signal bar,
ZH: 价格始终没有超过做空信号K线的高点
07:40 - 07:42
EN: and therefore never hit the stop.
ZH: 所以空头的止损不会被打掉
07:48 - 07:53
EN: If traders did get out down here, or for any reason, if they went long here,
ZH: 如果空头在这里提前离场，或者多头在这里做多
07:53 - 07:56
EN: they’re going to get out below this bear bar for a Wedge
ZH: 多头需要在这根阴线下方离场，因为是楔形顶——
07:56 - 08:01
EN: - one, two, three reversals down – or below this bear bar as well,
ZH: 1，2，3； 或者在这根阴线下方离场
08:01 - 08:05
EN: especially since it never went above the stop for that original sell.
ZH: 尤其是因为价格仍然在早盘高点的下方
08:10 - 08:13
EN: Parabolic Wedge Bottom, and a second entry buy
ZH: 抛物线楔形底，以及第2做多入场点
08:13 - 08:16
EN: for a failed breakout below yesterday’s low.
ZH: 从昨天的低点下方反转上涨
08:16 - 08:18
EN: The market broke below yesterday’s low, tried to reverse up.
ZH: 价格跌破了昨天的低点，尝试反转上涨
08:19 - 08:20
EN: Doji bar.
ZH: 十字星
08:20 - 08:23
EN: Not particularly good, especially after a strong selloff,
ZH: 不是特别好的做多信号，尤其因为左边的抛售非常强势
08:23 - 08:27
EN: and now the bulls get a second entry buy with a good-looking bull bar.
ZH: 现在多头等到了第2做多入场点，而且信号K线是漂亮的阳线
08:27 - 08:28
EN: This is a reasonable buy.
ZH: 买入做多是合理的
08:34 - 08:39
EN: You could also wait to buy the pullback, so strong reversal up and a pullback.
ZH: 也可以等回调时买入——强势反转上涨，回调
08:39 - 08:42
EN: This is a type of Cup and Handle bull flag right here.
ZH: 这是茶杯带柄的牛旗结构
08:42 - 08:45
EN: So we got a reversal and then a pullback,
ZH: 大反转，小回调
08:45 - 08:48
EN: and that is by definition what a Cup and Handle pattern is.
ZH: 这就是茶杯带柄结构的定义——
08:48 - 08:52
EN: A Cup and Handle pattern is a reversal followed by a pullback,
ZH: 大幅反转之后，小幅回调
08:52 - 08:54
EN: and that’s a buy signal.
ZH: 这根阳线是做多信号K
08:54 - 08:56
EN: A bull flag from this rally.
ZH: 它是这段上涨的牛旗
09:00 - 09:03
EN: The rally ultimately went back above yesterday’s high,
ZH: 最终价格又涨回到了昨天的最高点上方
09:03 - 09:07
EN: so an outside down day – and an outside up day.
ZH: 所以今天先从上往下吞噬，再从下往上吞噬
Slide 007
Time: 09:10
Bilingual Transcript
09:14 - 09:16
EN: Yesterday’s low.
ZH: 昨天的低点在这里
09:16 - 09:18
EN: We gapped down and we tried to reverse up
ZH: 大幅跳空低开，尝试反转上涨
09:18 - 09:20
EN: above that bear bar and above this bull bar.
ZH: 这根阴线，或这根阳线的上方是第1做多入场点
09:21 - 09:22
EN: Did not get very far.
ZH: 没有上涨很多
09:23 - 09:25
EN: We sold off again, and now we’re trying to reverse up again.
ZH: 恢复下跌，现在第2次尝试反转上涨
09:25 - 09:27
EN: I would not buy above the bear bar.
ZH: 我不会把突破买单挂在阴线的上方
09:27 - 09:30
EN: I prefer to buy above a bull bar, like this bar.
ZH: 我更喜欢在阳线上方买入，比如这根K线
09:30 - 09:35
EN: Or you could argue it looks like a Tight Trading Range – wait for a better buy.
ZH: 如果认为此时处于窄震荡区间，那么就等待更好的买点
09:35 - 09:37
EN: Here we have a bull bar closing on its high.
ZH: 这里有一根阳线收在最高
09:37 - 09:40
EN: At this point you can call it a Triangle, or a Tight Trading Range,
ZH: 此时可以说是三角形，也可以说是窄震荡区间
09:40 - 09:43
EN: or a third entry buy, but one with a pretty good bull bar.
ZH: 或者称之为第3做多入场点，有非常好的做多信号K
09:43 - 09:47
EN: That’s a pretty good buy, and we got a strong reversal up from there.
ZH: 这是一个非常好的买入点，价格从这里开始强势反转上涨
09:49 - 09:53
EN: If you do take that buy, stop is below the low of the day.
ZH: 买入之后，止损放在今天的最低点下方
Slide 008
Time: 10:00
Bilingual Transcript
10:03 - 10:06
EN: Today opened up above yesterday’s low, and then sold off immediately
ZH: 今天小幅跳空高开，然后不断下跌
10:06 - 10:10
EN: and fell below yesterday’s low, and reversed up above a bull bar.
ZH: 跌破了昨天的最低点， 这个小阳线的上方是第1做多入场点
10:11 - 10:13
EN: Tail on top, fairly prominent body.
ZH: 但上影线很长，实体部分很小
10:13 - 10:19
EN: It’s an okay buy, but a lot of traders
ZH: 不算很糟糕，但很多交易者宁愿等待更好的做多机会， 或者等待第2做多入场点
10:16 - 10:19
EN: would rather get a better-looking buy, or a second entry buy.
ZH: 不算很糟糕，但很多交易者宁愿等待更好的做多机会， 或者等待第2做多入场点
10:19 - 10:22
EN: Second entry buy was above this bear bar
ZH: 这根阴线的上方是第2做多入场点——不是最好
10:22 - 10:25
EN: - not great – or above this bull bar – better.
ZH: 把突破买单挂在这根阳线的上方更好
10:25 - 10:27
EN: So that’s a higher probability buy.
ZH: 在这里买入做多的胜率更高
10:29 - 10:34
EN: It’s also a test of the low from 2 days ago, a perfect Double Bottom here
ZH: 同时也是对前天最低点的测试，几乎是完美的双底
10:34 - 10:37
EN: and a Wedge selloff, a Wedge bear channel.
ZH: 而且这里是楔形下跌通道
10:37 - 10:39
EN: Wedge bear channel, bull flag.
ZH: 楔形下降通道，牛旗
10:39 - 10:43
EN: You expect a bull breakout, and that makes all of this a higher probability buy,
ZH: 交易者预期价格向上突破，使得在这里买入做多的胜率变得更高
10:43 - 10:46
EN: especially above a strong bull bar like that.
ZH: 尤其是在这样一根强势的阳线上方买入
10:46 - 10:52
EN: You could simply buy above this bull bar, but once you see this bull bar,
ZH: 你可以直接在这根阳线上方买入， 但这根阳线出现后，形成上涨波段的概率就变得很高了
10:49 - 10:52
EN: the probability is high that we’re going to have a swing up.
ZH: 你可以直接在这根阳线上方买入， 但这根阳线出现后，形成上涨波段的概率就变得很高了
10:55 - 10:58
EN: Pullback to the Moving Average and a Wedge bull flag.
ZH: 回调到均线，而且是楔形牛旗
10:58 - 11:04
EN: Again, another Cup and Handle pattern where you have a reversal
ZH: 这也是一个茶杯带柄的结构——大幅反转上涨，小幅回调形成牛旗
11:02 - 11:04
EN: and then a pullback to a bull flag.
ZH: 这也是一个茶杯带柄的结构——大幅反转上涨，小幅回调形成牛旗
11:04 - 11:08
EN: The reversal is the cup and the bull flag is the handle.
ZH: 大反转是杯身，牛旗是杯柄
11:08 - 11:11
EN: You could also call it a Higher Low Major Trend Reversal,
ZH: 也可是说它是低点抬高的大反转——
11:11 - 11:14
EN: which is what most Cup and Handle patterns are.
ZH: 上涨的茶杯带柄结构都是低点抬高的大反转
11:17 - 11:20
EN: A Wedge rally, a Lower High.
ZH: 楔形上涨通道，仍低于前期高点
11:20 - 11:21
EN: Decent sell signal bar.
ZH: 不错的做空信号K线
11:21 - 11:24
EN: Okay short later in the day for a scalp.
ZH: 可以在尾盘做空剥头皮
11:29 - 11:31
EN: Couple other trades.
ZH: 还有一些其他的交易机会
11:31 - 11:35
EN: A Double Bottom, pullback, a bull ii.
ZH: 双底牛旗，多头ii结构，买入是合理的 （注：连续两根孕线，而且是阳线收在高位）
11:34 - 11:37
EN: Reasonable buy, and then a Lower High Wedge rally.
ZH: 双底牛旗，多头ii结构，买入是合理的 （注：连续两根孕线，而且是阳线收在高位） 然后楔形反弹，低于前期高点
11:37 - 11:38
EN: Bull bars, bear.
ZH: 阳线，阴线
11:38 - 11:40
EN: Bull bars, bear, bull bar.
ZH: 阳线，阴线，阳线
11:40 - 11:44
EN: So third set of bull bars, and a reversal down.
ZH: 所以是第3次向上的推动，然后反转下跌
11:48 - 11:51
EN: Strong selloff on the open below yesterday’s low.
ZH: 开盘剧烈抛售，跌破昨天的最低点
Slide 009
Time: 11:50
Bilingual Transcript
11:51 - 11:55
EN: We tried to reverse up here – it’s a reversal up from below the Trading Range,
ZH: 第1根K线尝试反转上涨——从震荡区间下方反转上涨
11:55 - 11:59
EN: but not from below yesterday’s low – and then we sold off very strongly.
ZH: 但不是从昨天的低点下方——接着市场暴跌
12:00 - 12:03
EN: Strong selloff like this, probably we’ll get at least a second leg down.
ZH: 这么强势的抛售，至少会有第2段下跌
12:03 - 12:07
EN: Most bulls would not buy here; however, they would think about buying here.
ZH: 大多数多头不会在这里买入；然而，他们会考虑在这里买入
12:07 - 12:11
EN: Even though it’s a huge selloff, it’s still a second entry
ZH: 尽管早盘下跌了这么多，但它仍然是第2做多入场点
12:11 - 12:13
EN: for a failed breakout below yesterday’s low.
ZH: 第2次从昨天的低点下方反转上涨
12:18 - 12:21
EN: If you want, you can call it a Parabolic Wedge.
ZH: 也可以把它看作是抛物线楔形底
12:21 - 12:23
EN: I would not really call this a Parabolic Wedge.
ZH: 我个人不会称之为抛物线楔形底
12:23 - 12:27
EN: I would simply call it a Sell Climax and then consecutive Sell Climax,
ZH: 它是抛售高潮，连续的抛售高潮（注：不可持续）
12:27 - 12:29
EN: and then a pretty good-looking bull bar,
ZH: 然后有一根漂亮的阳线
12:29 - 12:31
EN: especially since there’s a Micro Double Bottom.
ZH: 尤其这里是一个小双低
12:31 - 12:36
EN: So a reasonable buy above that high, looking for a swing up.
ZH: 所以在它的上方买入是合理的，押注上涨波段
12:39 - 12:43
EN: Whenever you get a reversal day like this, and the selloff initially is very big
ZH: 每当遇到这样的反转，早盘的跌幅非常大
12:43 - 12:46
EN: – here, the selloff is about the size of an average day’s range;
ZH: 这里的跌幅已经满足日K线的平均振幅了
12:46 - 12:49
EN: it’s in fact bigger than yesterday’s range
ZH: 事实上已经超过了昨天的振幅
12:49 - 12:52
EN: - whenever you have a very big selloff and then a reversal,
ZH: 如果早盘的跌幅这么大，然后反转上涨
12:52 - 12:55
EN: usually you do not get a bull trend day.
ZH: 通常不会变成上涨趋势日
12:55 - 12:58
EN: Is this a bull trend day? I would call it a Trading Range day.
ZH: 这算是上涨趋势日吗？ 我称之为震荡区间日
12:58 - 13:02
EN: We went down, we went up, and we did not get much above the open,
ZH: 先下跌，再上涨，没有超过起跌点太多
13:02 - 13:05
EN: and that’s usually what happens when you get a reversal
ZH: 如果早盘大幅下跌，然后反转上涨，通常都是这种情况
13:04 - 13:05
EN: after a very big selloff.
ZH: 如果早盘大幅下跌，然后反转上涨，通常都是这种情况
13:05 - 13:08
EN: If the selloff is small and you get a reversal,
ZH: 如果早盘的跌幅很小，然后反转上涨
13:08 - 13:10
EN: then you can get a big bull trend day.
ZH: 有可能会形成一个大的上涨趋势日
13:10 - 13:14
EN: But if you looked at this on the daily chart, it’s a doji bar.
ZH: 如果你看这一天的日K线，是一个十字星
13:14 - 13:17
EN: Here’s the open, there’s the close, and for me it’s a Trading Range day
ZH: 开盘价在这里，收盘价在这里，所以是震荡区间日
13:17 - 13:21
EN: even though it trended up all day, or most of the day.
ZH: 尽管今天大部分时间是处于上涨趋势的
13:21 - 13:25
EN: Big selloff on the open when it’s about the size of an average day’s range,
ZH: 开盘的大跌已经达到了日K线的平均振幅
13:25 - 13:32
EN: if you get a reversal, usually the market has a hard time getting much
ZH: 如果反转，就算完全涨回去，也很难大幅突破起跌点
13:29 - 13:32
EN: above the open – if it gets above the open at all.
ZH: 如果反转，就算完全涨回去，也很难大幅突破起跌点
Slide 010
Time: 13:35
Bilingual Transcript
13:40 - 13:44
EN: Market gapped below yesterday’s low, tried to reverse up here.
ZH: 跳空低开在昨天的最点下方，这里是第1做空入场点
13:44 - 13:49
EN: We have a Micro Double Bottom, but a doji bar and a bull doji bar here.
ZH: 有一个小双低，但做多信号K线是十字星
13:49 - 13:54
EN: A lot of traders would want a second entry buy
ZH: 很多交易者会等待第2做多入场点， 以及更好的阳线，也就是这一根
13:51 - 13:54
EN: above a better bull bar, which they got here.
ZH: 很多交易者会等待第2做多入场点， 以及更好的阳线，也就是这一根
13:58 - 14:00
EN: We went down big, up big.
ZH: 大跌，大涨
14:00 - 14:01
EN: Probable Trading Range.
ZH: 很可能是震荡区间
14:01 - 14:05
EN: We went up big and down big.
ZH: 大涨，大跌
14:03 - 14:05
EN: Confusion.
ZH: 大涨，大跌
14:05 - 14:06
EN: Probably Trading Range.
ZH: 震荡区间的特征
14:06 - 14:11
EN: Strong enough reversal that bulls would try
ZH: 上涨足够强势，多头会尝试制造低点抬高的大反转
14:09 - 14:11
EN: to get a Higher Low Major Trend Reversal.
ZH: 上涨足够强势，多头会尝试制造低点抬高的大反转
14:11 - 14:14
EN: So bear trend, bull breakout, Higher Low,
ZH: 下降趋势，突破趋势线，低点抬高
14:14 - 14:17
EN: and the market simply went sideways for several hours.
ZH: 但市场只是横盘震荡了几个小时
14:18 - 14:22
EN: The bears got trend resumption at the end of the day.
ZH: 尾盘下降趋势恢复
Slide 011
Time: 14:25
Bilingual Transcript
14:29 - 14:32
EN: We broke below yesterday’s low and reversed up.
ZH: 跳空低开在昨天的最低点下方，第1次反转上涨
14:32 - 14:33
EN: Good-looking bull bar.
ZH: 非常漂亮的阳线
14:34 - 14:37
EN: Broke lower and reversed up a second time.
ZH: 继续下跌创新低，第2次反转上涨
14:37 - 14:41
EN: Some bulls would buy here, or they would wait to see
ZH: 一些多头会在这里买入， 一些人会等待更好的机会
14:40 - 14:41
EN: if they could get a better setup.
ZH: 一些多头会在这里买入， 一些人会等待更好的机会
14:41 - 14:44
EN: Here we have a small Higher Low.
ZH: 这里低点抬高了
14:44 - 14:51
EN: Strong reversal up from a second entry for the failed breakout
ZH: 第2次从昨天的低点下方强势反转上涨， 然后低点抬高，有不错的做多信号K线
14:47 - 14:51
EN: below yesterday’s low, and now we’re getting a decent buy signal bar here.
ZH: 第2次从昨天的低点下方强势反转上涨， 然后低点抬高，有不错的做多信号K线
14:51 - 14:53
EN: So that would be another buy,
ZH: 这也是一个合理的买点
14:53 - 14:55
EN: and then we have a Higher Low Major Trend Reversal here.
ZH: 然后这里也是低点抬高的大反转
14:55 - 15:00
EN: So that would be another buy above that bull bar, or above that inside bar.
ZH: 在这根阳线上方，或者这根孕线上方买入做多，都是合理的
15:04 - 15:09
EN: It’s pretty common in the open that you have
ZH: 在早盘经常需要几次尝试才能抓到大波段
15:06 - 15:09
EN: to take several trades before you get a swing.
ZH: 在早盘经常需要几次尝试才能抓到大波段
15:13 - 15:16
EN: A lot of the bears would sell below this bear inside bar,
ZH: 很多空头会在这个孕线下方卖出做空
15:16 - 15:19
EN: and we have a Wedge bear flag at the Moving Average.
ZH: 因为是反弹到均线的楔形熊旗
15:19 - 15:23
EN: So it’s reasonable if you bought here to get out below this bear bar,
ZH: 对于多头来说，如果在这里买入了，在这根阴线下方离场是合理的
15:23 - 15:27
EN: and it’s also reasonable to get short, looking for a bear trend.
ZH: 做空押注下降趋势也是合理的
15:30 - 15:32
EN: Then the bulls have a Higher Low Major Trend Reversal.
ZH: 然后多头得到了低点抬高的大反转结构
15:32 - 15:34
EN: If you want you can call it a Double Bottom.
ZH: 也可以把它看作是双底
15:35 - 15:38
EN: Therefore, a lot of the bears who sold here would get out here.
ZH: 因此，很多之前做空的空头会在这里离场
15:38 - 15:40
EN: A lot of the bulls would buy here.
ZH: 同时，很多多头会买入做多
15:40 - 15:42
EN: The day ended up mostly sideways.
ZH: 最终，这一天整体是横盘的
15:42 - 15:44
EN: There was a rally at the end of the day.
ZH: 尾盘有一个不错的上涨波段
15:47 - 15:50
EN: Another Double Bottom Higher Low Major Trend Reversal.
ZH: 这也是一个低点抬高的大反转
15:50 - 15:53
EN: This Higher Low Major Trend Reversal is bad.
ZH: 这个低点抬高的大反转机会不是很好——
15:53 - 15:57
EN: 4 bear bars and then a bear inside bar here.
ZH: 连续4根阴线，做多信号K线是空头孕线
15:57 - 15:59
EN: Usually that’s going to be a minor reversal,
ZH: 通常这大概率只是小反转
15:59 - 16:02
EN: and traders will look for a major reversal later in the day.
ZH: 交易者会继续等待好的大反转结构
16:02 - 16:03
EN: Here, this is better.
ZH: 这里的结构更好一些
16:03 - 16:08
EN: A Double Bottom, slightly Higher Low with 3 bull bars closing on its high,
ZH: 双底，低点略微抬高，连续3根阳线收在最高
16:08 - 16:12
EN: so you buy above there, or above here for a swing up at the end of the day.
ZH: 在它的上方，或者它的上方买入做多，上涨波段一直持续到收盘
16:18 - 16:23
EN: I said that sometimes the market will break out
ZH: 这节课的开头提到过，有时市场突破昨天的高点之后，尝试反转下跌
Slide 012
Time: 16:20
Bilingual Transcript
16:20 - 16:23
EN: above yesterday’s high and reverse down,
ZH: 这节课的开头提到过，有时市场突破昨天的高点之后，尝试反转下跌
16:23 - 16:27
EN: and then the bulls buy the reversal and the bull breakout resumes.
ZH: 但多头逢低买入，反转失败，突破继续
16:27 - 16:31
EN: So there’s a failed reversal of the breakout of yesterday’s range.
ZH: 反转失败，代表突破是成功的
16:31 - 16:32
EN: The same can happen at the bottom.
ZH: 向下突破时也是一样
16:32 - 16:35
EN: You can break below yesterday’s low, try to reverse up,
ZH: 跌破昨天的最低点，尝试反转上涨
16:35 - 16:40
EN: but that reversal attempt fails and the bear breakout resumes,
ZH: 但反转失败，空头突破继续
16:40 - 16:42
EN: and the day becomes a bear trend.
ZH: 于是变成了下降趋势日
Slide 013
Time: 16:43
Bilingual Transcript
16:45 - 16:51
EN: Every pattern can fail, and you should be aware of how a failure looks.
ZH: 每个模式都有失败的时候，交易者应该了解模式失败后会怎么样
16:55 - 16:57
EN: We broke above yesterday’s high, reversed down,
ZH: 突破昨天高点，反转下跌 （注：粉色线是历史高点，不是昨天的高点）
16:57 - 17:00
EN: and then we had a second reversal either here or here.
ZH: 然后这里或这里是第2次反转下跌
17:01 - 17:05
EN: However, we have a pretty good rally here, and a lot of bull bars here.
ZH: 然而，上涨非常强势，这里有很多阳线
17:05 - 17:09
EN: You have to be aware that this may not lead to a bear trend.
ZH: 必须意识到，今天可能不会变成下降趋势，而是震荡区间
17:09 - 17:15
EN: Instead, it led to a Trading Range, and at some point
ZH: 并且在某个时刻需要做出判断：空头要失败了
17:12 - 17:15
EN: you have to decide that the sell is going to fail.
ZH: 并且在某个时刻需要做出判断：空头要失败了
17:16 - 17:18
EN: Here we have 4 bull bars.
ZH: 连续4根阳线
17:18 - 17:20
EN: Here we have 6 bars without a bear body.
ZH: 连续6根K线中没有阴线
17:20 - 17:22
EN: It looks like the sell is failing.
ZH: 空头正在失败
17:22 - 17:27
EN: A lot of the bears who took that sell would get out above this bull bar here,
ZH: 很多在那里卖出做空的空头，会在这根阳线上方离场
17:27 - 17:30
EN: a second entry buy holding above the Moving Average.
ZH: 价格维持在均线上方，它是第2做多入场点
17:30 - 17:38
EN: Then at this point, this big bull bar represents everybody deciding
ZH: 这根大阳线出现之后，代表所有人都同意： 价格会继续上涨，空头正在放弃
17:35 - 17:38
EN: that the market is going higher and that the sell is going to fail.
ZH: 这根大阳线出现之后，代表所有人都同意： 价格会继续上涨，空头正在放弃
17:43 - 17:52
EN: The bears who took this short are disappointed that it immediately reversed up
ZH: 看到价格在均线获得支撑立刻上涨， 第2次快速反转上涨，阳线非常漂亮，空头感到很失望
17:47 - 17:52
EN: at the Moving Average and immediately reversed up again a second time
ZH: 看到价格在均线获得支撑立刻上涨， 第2次快速反转上涨，阳线非常漂亮，空头感到很失望
17:51 - 17:52
EN: with a good-looking bull bar.
ZH: 看到价格在均线获得支撑立刻上涨， 第2次快速反转上涨，阳线非常漂亮，空头感到很失望
17:52 - 17:57
EN: Most of these bears would get out here, and then the final bears gave up here.
ZH: 很多空头会在这里离场，最后的空头也都在这里放弃了
17:58 - 18:00
EN: The bulls are doing the opposite.
ZH: 多头也在大量买入
18:00 - 18:01
EN: They know the bears are giving up.
ZH: 他们知道空头正在放弃
18:01 - 18:03
EN: The bulls are looking to buy to get long.
ZH: 所以多头寻找买入做多的机会
18:10 - 18:12
EN: This pullback stayed above that breakout point.
ZH: 价格始终没有回调到突破点的下方
18:12 - 18:14
EN: This pullback stayed above that high.
ZH: 回调没有碰到那个高点
18:14 - 18:18
EN: It’s a Small Pullback Bull Trend day, which is a very strong trend day.
ZH: 回调幅度非常小——很强势的上涨趋势日
18:18 - 18:22
EN: A big Buy Climax at the end, and then profit-taking into the close.
ZH: 尾盘有极端的抢购高潮，收盘前多头获利离场 （注：多头止盈导致价格回调）
18:24 - 18:28
EN: Bulls would buy all of those little bull flags, looking for another leg up.
ZH: 每次回调（牛旗），多头都会买入，押注还有一段上涨
18:32 - 18:38
EN: At the end of the day, some bears would sell
ZH: 在收盘前，一些空头会卖出做空剥头皮，多头止盈离场
18:36 - 18:38
EN: for a scalp down and the bulls would exit.
ZH: 在收盘前，一些空头会卖出做空剥头皮，多头止盈离场
18:38 - 18:40
EN: This is a Buy The Close finish.
ZH: 多头想一直买到收盘 （注：让日K线成为收在最高的大阳线）
18:40 - 18:43
EN: Probably starting a little bit too early, starting around noon.
ZH: 但开始得太早了，收盘前一小时就开始了
18:43 - 18:47
EN: Normally a Buy The Close finish has to start closer to 12:30
ZH: 最好在收盘前半小时开始，这样上涨就能持续到收盘
18:47 - 18:49
EN: if it’s going to make it to the end of the day.
ZH: 让日K线收在最高点
18:49 - 18:52
EN: If it starts too early, it usually reverses.
ZH: 如果太早开始，尾盘通常都会反转下跌
Slide 014
Time: 18:55
Bilingual Transcript
19:00 - 19:04
EN: The market goes above yesterday’s high, tried to reverse down,
ZH: 跳空高开在昨天的高点上方，第1次反转下跌
19:04 - 19:08
EN: tried to reverse down a second time, but then it became a bull flag.
ZH: 第2次反转下跌，但是变成了牛旗
19:08 - 19:10
EN: This is a High 2 bull flag, especially above this bar.
ZH: 这是高2牛旗，这根K线上方尤其是一个好的买点
19:10 - 19:13
EN: At some point these bears have to decide to give up.
ZH: 某个时刻空头必须决定放弃
19:13 - 19:17
EN: If they enter short below that bear bar and it immediately reverses up,
ZH: 如果空头在那根阴线下方卖出做空，但价格立刻上涨
19:17 - 19:23
EN: they’re going to be pretty quick to get out, either above this bull bar
ZH: 他们必须快速离场，要么在这根收在最高的阳线上方， 要么在那根阳线上方
19:20 - 19:23
EN: closing above its high, or above that bull bar.
ZH: 他们必须快速离场，要么在这根收在最高的阳线上方， 要么在那根阳线上方
19:29 - 19:32
EN: The bulls will buy this as a High 2 bull flag.
ZH: 多头会买入做多，因为它是高2牛旗
19:33 - 19:36
EN: So bull trend, the gap up is a bull trend, and then a pullback
ZH: 跳空高开，所以是上涨趋势，回调
19:36 - 19:38
EN: and then a second entry buy above that bar.
ZH: 那根K线的上方是第2做多入场点（注：即高2）
19:38 - 19:42
EN: Ultimately there was a Wedge Top and a second entry sell.
ZH: 最终形成楔形顶，有第2做空入场点
19:42 - 19:46
EN: First is below a bull bar, second below the bear inside bar,
ZH: 这根阳线下方是第1做空入场点， 这根空头孕线下方是第2做空入场点
19:46 - 19:47
EN: and the bears got a swing down.
ZH: 空头得到了下跌波段
Slide 015
Time: 19:50
Bilingual Transcript
19:57 - 19:59
EN: The market gapped below yesterday’s low
ZH: 跳空低开在昨天的最低点下方
19:59 - 20:03
EN: and below the 20 bar exponential Moving Average on the 60-minute chart.
ZH: 也低于60分钟图的EMA20
20:03 - 20:05
EN: So this is the 60-minute EMA.
ZH: 这条虚线就是60分钟图的EMA20
20:05 - 20:12
EN: This is the 5-minute EMA, and I have a formula
ZH: 这条线是5分钟图的EMA20； 然后我写了一个程序，把60分钟图的EMA20移植到了5分钟图上
20:08 - 20:12
EN: that allows me to plot the 60-minute EMA on the 5-minute chart.
ZH: 这条线是5分钟图的EMA20； 然后我写了一个程序，把60分钟图的EMA20移植到了5分钟图上
20:13 - 20:15
EN: The market broke below yesterday’s low
ZH: 市场跌破了昨天的最低点
20:15 - 20:17
EN: and below the Moving Average and reversed up.
ZH: 也跌破了均线，然后反转上涨
20:17 - 20:20
EN: A reasonable buy, and then a Higher Low, reasonable buy.
ZH: 在它的上方买入是合理的； 然后低点抬高，也是合理的买点
20:20 - 20:21
EN: But then look at this.
ZH: 但是看这里
20:21 - 20:23
EN: We sold off, we sold off.
ZH: 下跌，下跌
20:23 - 20:25
EN: We’re selling off at the Moving Average
ZH: 在均线第3次反转下跌
20:25 - 20:28
EN: and around a 50% pullback of this selloff.
ZH: 而且也是左边下跌波段的50%反弹
20:28 - 20:31
EN: Therefore, this is a reasonable sell signal as well.
ZH: 这个做空信号K线也非常不错
20:31 - 20:33
EN: So the bears will short that.
ZH: 所以空头做空是合理的
20:33 - 20:35
EN: Bulls will buy this, they’ll buy this,
ZH: 多头会在这里、这里买入
20:35 - 20:41
EN: and then everybody shorts this, a Wedge bear flag.
ZH: 然后所有人都会在这里卖出—— 50%反弹、反弹到均线的3推楔形熊旗
20:39 - 20:41
EN: 50% pullback at the Moving Average.
ZH: 然后所有人都会在这里卖出—— 50%反弹、反弹到均线的3推楔形熊旗
20:41 - 20:44
EN: Opening reversal down from the Moving Average.
ZH: 反弹到均线，然后恢复下跌
20:53 - 20:54
EN: Strong bear breakout.
ZH: 大阴线跌破创新低（注：没有跟随）
20:54 - 20:57
EN: Immediately reversed up above a pretty good bull bar.
ZH: 立刻反转上涨，非常不错的阳线（高点被突破，突破买单被触发）
20:57 - 21:01
EN: Remember, on the open, no matter how strong a leg up or down is,
ZH: 不管开盘的上涨或下跌多么强势
21:01 - 21:04
EN: 50% chance it’s going to fail and reverse.
ZH: 50%的概率会失败、反转
21:04 - 21:07
EN: If you see a strong selloff like this and then a bull bar,
ZH: 如果看到这样强势的抛售，然后是一根阳线
21:07 - 21:10
EN: especially a bull inside bar closing near its high,
ZH: 特别是一根多头孕线收在最高
21:10 - 21:13
EN: you have to get out of shorts and it’s a reasonable buy.
ZH: 空头必须离场，而且买入做多也是很合理的
21:13 - 21:14
EN: This is a large Double Bottom.
ZH: 这是一个大的双底
21:14 - 21:16
EN: We went up, we went up again.
ZH: 上涨，再次上涨
21:16 - 21:20
EN: A Lower Low Double Bottom, Lower Low Major Trend Reversal.
ZH: 低点降低的双底，低点降低的大反转
21:20 - 21:22
EN: It’s a large second entry buy.
ZH: 是一个大的第2次反转上涨结构 （注：第1、第2做多入场点相隔很远）
21:22 - 21:29
EN: Here’s the first entry buy, failed breakout yesterday’s low.
ZH: 跌破昨天低点之后，第1做多入场点在这里， 第2做多入场点在这里
21:26 - 21:29
EN: Here’s the second entry buy, failed breakout yesterday’s low.
ZH: 跌破昨天低点之后，第1做多入场点在这里， 第2做多入场点在这里
21:29 - 21:32
EN: This is a 5-minute chart, and if you looked at a 15-minute chart,
ZH: 这是5分钟图，如果看15分钟图
21:32 - 21:38
EN: it would probably be a fairly simple looking second entry
ZH: 第2做多入场点的结构可能会变得很清晰—— 第2次从昨天的低点下方反转上涨
21:36 - 21:38
EN: buy failed breakout below yesterday’s low.
ZH: 第2做多入场点的结构可能会变得很清晰—— 第2次从昨天的低点下方反转上涨
21:43 - 21:46
EN: The bulls take the reversal up here and here.
ZH: 多头在这里和这里买入做多
21:46 - 21:49
EN: The bears sell the reversal down below that bear bar,
ZH: 空头在这根阴线下方卖出做空
21:49 - 21:51
EN: or a second entry short here.
ZH: 或者它的下方，是第2做空入场点
21:55 - 21:58
EN: At this point we have a Lower Low Major Trend Reversal,
ZH: 一开始是低点降低的大反转
21:58 - 22:01
EN: pretty good rally, and a Higher Low Major Trend Reversal.
ZH: 反转上涨很强势，然后形成低点抬高的大反转
22:01 - 22:02
EN: A reasonable buy.
ZH: 合理的买点
22:02 - 22:06
EN: A Wedge Higher Low.
ZH: 也是楔形牛旗——1，2，3
22:04 - 22:06
EN: One, two, and three.
ZH: 也是楔形牛旗——1，2，3
Slide 016
Time: 22:10
Bilingual Transcript
22:12 - 22:14
EN: Yesterday’s high is important resistance.
ZH: 昨天的高点是重要的阻力位
22:14 - 22:16
EN: Yesterday’s low is important support.
ZH: 昨天的低点是重要的支撑位
22:16 - 22:20
EN: If the market breaks above yesterday’s high and reverses down,
ZH: 如果市场刚突破昨天的高点就反转下跌
22:20 - 22:23
EN: that’s a reasonable sell, especially a second entry sell.
ZH: 尤其是第2次反转下跌，做空是合理的
22:23 - 22:26
EN: If it breaks below yesterday’s low and reverses up,
ZH: 如果市场刚跌破昨天的低点就反转上涨
22:26 - 22:29
EN: especially a second time, that’s a reasonable buy for a swing up.
ZH: 尤其是第2次反转上涨，做多是合理的
22:29 - 22:34
EN: However, sometimes when the market reverses up from below yesterday’s low,
ZH: 然而，有时候市场尝试从昨天的低点下方反转上涨
22:34 - 22:37
EN: it becomes a bear flag and the bear trend resumes.
ZH: 反转失败变成熊旗，下降趋势恢复
22:37 - 22:40
EN: So you have to be aware that the reversal will not always work,
ZH: 所以要意识到，不是所有的早盘反转都会成功
22:40 - 22:43
EN: and you have to be prepared for the bear trend to resume,
ZH: 必须做好下降趋势继续的准备
22:43 - 22:44
EN: and you have to get short again.
ZH: 必须寻找做空的机会
22:44 - 22:47
EN: The opposite’s true at the high.
ZH: 上涨也是一样的
22:47 - 22:50
EN: If the market breaks above yesterday’s high and reverses down
ZH: 如果市场突破了昨天的高点，尝试反转下跌
22:50 - 22:55
EN: but the reversal becomes a bull flag, you have to be prepared
ZH: 但反转失败、变成牛旗，空头必须做好离场的准备， 然后找机会入场做多
22:53 - 22:55
EN: to get out of shorts, and to look to get long.
ZH: 但反转失败、变成牛旗，空头必须做好离场的准备， 然后找机会入场做多
22:59 - 23:00
EN: I’m Al Brooks.
ZH: 我是阿尔·布鲁克斯
23:00 - 23:03
EN: Thank you for watching the Brooks Trading Course.
ZH: 感谢观看布鲁克斯交易课程
23:03 - 23:06
EN: This is the fifth of six videos on trading the open.
ZH: 早盘的第5节课，就先讲到这里