Lesson 2

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Trader Question
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Lesson 2

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Lesson 2 Section 4


Screen 33: I see a (c) 5/1 dn closed.

Your answer is (h) 5/3 closed. Please explain.

R.S.
pldot
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Re: Lesson 2

Post by pldot »

===It is a 5/3 closed because point x is below the close of the previous bar.
If it were a 5/1d closed, point x would have to occur above the close of the prior bar.
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Re: Lesson 2

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Screen 42: I see a 5/3 up but the extension throws me.

Your answer is (j) extended 5/2dn. Please explain

R.S.
pldot
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Re: Lesson 2

Post by pldot »

====There is no 5/3 up drawn on the chart. The long yellow line is the 5/2 down. If you extend it to the fourth bar and use that point as a level to refer back tot he third bar, that is the point ofthe "5/2 dn extended" line.
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