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Awesome thread. Thanks to all the contributors.

Chart is allergic to 10/21. Worksheet is in progress. Happy trading.

Thank you for the reply. The wick tips definitely add more levels. After some simming today it's confirmed that entering at S&R has the advantage of putting you closer to your stop and leaving more room for profit than does chasing price. Here are my levels for practice...hope there aren't...

Comments welcome. Am I on the right track here? Thank you ESR for this amazing thread and a big thank you to the contributors who made this such an enjoyable and worthwhile reading experience. I'm learning so much thanks to you.

Hi Dentist (been looking for ya). That pattern is what Thomas J. Dorsey in Point & Figure Charting: The Essential Application for Forecasting and Tracking Market Prices calls a "Long Tail Down." Dorsey makes the distinction that this pattern is for trading and not investing. :D - Snaggles