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Dr. Al says: "2nd leg does not necessarily mean 2nd leg to a new low. Sometimes you get a BO and the 2nd leg does not fall below the low of 1st leg."
I'm confused over the 2nd leg definition here. Because I thought the very definition of "Leg" is
"A small trend that breaks a trend line of any size".
If a trend line is not broken meaning new low is not achieved, therefore not a new leg.
So how is it that 2nd leg down does not need to be a new low ?
