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Lesson 16

Posted: Wed Nov 05, 2008 9:34 am
by Trader Question
Assuming you received prior post re "aberrant" line. My read is that it was misdrawn, however, it is used in the creation of the main resistance line, which is my concern. It is then repeated in the exercises.

Also not clear on the wording of a point that is made repeatedly and this has to do with lesson 16 in which you state to the effect that "tons of 5-9's" are seen, or 1 is seen, etc... but if you don't see this, pretend you did. You apply the same reasoning to the 5-2's and so on. My question has to do with what exactly is being said here. You have reason to expect a dotted line setting up (based on HTP), but the lines are not materializing on the LTP. But you are acting as if they are? If a line is not there, its not there. Why deny reality? (doesn't this fly in the face of "awareness"?) I don't get it. If the LTP does not play out as expected, then what is being set up is not a dotted line (yes pattern), but a continuation (no pattern). Please comment and clarify. Thanks.

D.A.

Re: Lesson 16

Posted: Wed Nov 05, 2008 9:36 am
by pldot
a turn can occur at the point of 5-9's.... and then you have that to lean against. But if there are no 5-9s, then you take the next level, which is 5-2s, which would be the next thing to kick in when a turn occurs....and so forth .... not sure why this is confusing to you... likely you are flummoxed by our playful language.... but don't be so literal-minded that you cut off your nose to spite your face, as my dear mama used to say....bad for trading and builds dyspepsia. If you have reason to think that a turn will occur, then it can occur in several ways, and you have to be alert to asll of these possibilities, and these elements will occur in a sequence, but not necessarily starting with the same step...