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hi Mr. abhi,
yes u r right, the TL was NOT drawn correctly, actually i was in a hurry to post it, as what i have drawn is a COMMON SENSE TL not TOM DEMARKS TL...........missed the swing low.....any how later it became a useless TL as it was broken, and where as the smaller RED line is concerned it denotes the TOM DEMARKS TL , it signifies the most recent swing lows in an UPTREND. and for that it to be validated there is no need to form higher highs as its formed during an UPTREND....ACTUALLY I WAS MORE CONCERNED HERE ABOUT THE CONJUCTION OF TWO TLs which according to DEMARK was an significant SIGNALLING POINT.........any how need to wait till markets are opened till monday, to confirm its trend............thanx for sharing.........CHEERS!!!!!!!!!!!!!!!!!!!!!!!!!:thumb:-------------------MR
hi Mr. abhi,
yes u r right, the TL was NOT drawn correctly, actually i was in a hurry to post it, as what i have drawn is a COMMON SENSE TL not TOM DEMARKS TL...........missed the swing low.....any how later it became a useless TL as it was broken, and where as the smaller RED line is concerned it denotes the TOM DEMARKS TL , it signifies the most recent swing lows in an UPTREND. and for that it to be validated there is no need to form higher highs as its formed during an UPTREND....ACTUALLY I WAS MORE CONCERNED HERE ABOUT THE CONJUCTION OF TWO TLs which according to DEMARK was an significant SIGNALLING POINT.........any how need to wait till markets are opened till monday, to confirm its trend............thanx for sharing.........CHEERS!!!!!!!!!!!!!!!!!!!!!!!!!:thumb:-------------------MR