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Strategies & Market Trends : Point & Figure - Beginners (Real Green)
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To: wizzards wine who wrote (24)12/27/1998 8:42:00 PM
From: leslie jo  Read Replies (2) of 322
 
Okay...I think I see my error.

New BullishSL's are not redrawn until they've been broken. In CKFR's case, a BullishSL was broken in May and traded below its BullishSL for awhile until it really declined in August. After bottoming out at 8.5 and reversing into X's, one could have drawn a new BullishSL under the O at 8.5 since it was the lowest O on the chart. However, it again reversed back to O's and hit 6 so a newer BullishSL could be redrawn under that O because that O was the lowest on the chart. Correct?

As for the BearishRL, if there was a reversal down from the last column of X's, I can see where a new line would be drawn at 20. However, if it continued in X's on up past 21 and 22 and perhaps onto 23 and 24, then reversed down, a new BearishRL would be drawn over that new O.

As for the BullishRL is that drawn above the top X next to the wall of O's which would be above the X at 21 up at a 45 degree angle? Or would it be above the X next to the wall of O's at 31 up at a 45 degree angle?

Can there be short term uptrend and downtrend lines? Such as a short-term BullishSL under the O at 11.5? If so, how much weight are these lines given?

Thanks, again, Preston. I've been very confused about trend lines and you've helped me immensely...

LJ
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