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Corner Line Confusion
Posted: Fri Oct 31, 2008 2:56 pm
by Trader Question
Some confusion w/ the Corner Line. It connects the ISO H/L w/ the TR bar. The TR bar is the 3rd bar of 3 w/ conseq. closes on the opp. side of the DOT from the ISO H/L. So: Cong. Ent. (1st) and the CE bar may also be ISO H/L; Cong. Act. bar (2nd); Trend run bar = T REv. bar (3rd). On some of the screens it looks like the CL connects the ISO H/L w/ very next bar.
CG
Re: Corner Line Confusion
Posted: Fri Oct 31, 2008 2:57 pm
by pldot
=== yes,,, usually try to connect CL with next bar from the isolated low that creates the dotted line.
Yet even the 3rd bar can be it.
Re: Corner Line Confusion
Posted: Fri Oct 31, 2008 2:58 pm
by Trader Question
CL can also pass through subseq. bars when connecting to TR bar yes?
The CL is only used when we go from one trend immediately to another w/o Cong.?
CG
Re: Corner Line Confusion
Posted: Fri Oct 31, 2008 2:59 pm
by pldot
=== yes, CL essentially is to project a trend reversal, and often of some distance,,, check Lesson on targets,,, the CL from first couple of bars can even be broken due to a Pldot crest/valley challenge, but not good if closes thru the CL. At any rate, when see a CL doing a job, one is on alert to potential high energy.