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Lesson 2
Posted: Thu Oct 30, 2008 7:39 am
by Trader Question
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.
Re: Lesson 2
Posted: Thu Oct 30, 2008 7:40 am
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.
Re: Lesson 2
Posted: Thu Oct 30, 2008 7:40 am
by Trader Question
Screen 42: I see a 5/3 up but the extension throws me.
Your answer is (j) extended 5/2dn. Please explain
R.S.
Re: Lesson 2
Posted: Thu Oct 30, 2008 7:41 am
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.