L17 Sec 1 Scr 48 I also don't see Mly dotted line at 7400 here either.
R.S.
Lesson 17
Re: Lesson 17
It is the same chart. The numbers have chanced because the etx is talking about the earlier block level (on bar 3) but the formation of the bottom dotted line is the same; TR on bars 3-4-5, then on bar 6 the new block forms and dotted line occurs at 7400.
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Trader Question
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Re: Lesson 17
Lesson 17 Section 1 Screens 45-47
My understanding of Dotted Lines is that the market needs to be in a trend run. Three closes on one side of the Pldot and the Highest H or the Lowest L.
In this example I understand how the dotted line can be setting up on other TP's but I do not see how a Mly dotted line can be setting up on the Mly in the 7400 area.
Would you clarify for me please.
R.S.
My understanding of Dotted Lines is that the market needs to be in a trend run. Three closes on one side of the Pldot and the Highest H or the Lowest L.
In this example I understand how the dotted line can be setting up on other TP's but I do not see how a Mly dotted line can be setting up on the Mly in the 7400 area.
Would you clarify for me please.
R.S.
Re: Lesson 17
Re scn 45 Lesson 17...
Trend run down occurs after third close udner the pldot... Bar labeled 1 is first close, bars 2-3 are second and third closes. Thus we have a trend run down. Dotted line is formed after close of bar 4 to the topside of pldot. Dotted line forms at lowest low in the neighborhood of 7400. Block level forms in the neighborhod of 2 dots back at roughly 8600.
OK?
Trend run down occurs after third close udner the pldot... Bar labeled 1 is first close, bars 2-3 are second and third closes. Thus we have a trend run down. Dotted line is formed after close of bar 4 to the topside of pldot. Dotted line forms at lowest low in the neighborhood of 7400. Block level forms in the neighborhod of 2 dots back at roughly 8600.
OK?