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Hi，I got a question about counting L1.This is the definition of how to count the bar.When a bear trend or a sideways market is correcting sideways or up, the first bar with a low below the low of the prior bar is a low 1, ending the
first leg of the correction, which can be as brief as that single bar. Subsequent occurrences are called the low 2, low 3, and low 4 entries.
But in this video, i found the L1 and L 2 are higher than the bar before. Why they are called L1 and L2
Thnk you
Because L1, L2, etc, are the signals, not the entries. So when a bar breaks the low of the prior bar, THE PRIOR BAR becomes the L1 signal bar. In other words, you only call it an L1 or L2 after it gets triggered by the next bar. You could call the next bar the L1 entry bar, but the L1 signal is the bar prior, the one who's low gets broken.
Jean-Sebastian thank you for that short and simple answer. Hours upon hours I’ve been racking my brain and it’s that simple smh
Hi Jean-Sebastian,
I'm writing to sincerely thank you for your clear and concise answer regarding the L1 and L2 signals.
To be honest, I had been trying to get a solid grasp of the counting and entry points for L1 and L2 for a while. Your explanation was incredibly clear and spot-on, and it helped me achieve a much better understanding of the concept.
Thank you very much for your expertise and assistance!
