1st time 727 trans build with pix

FredS said
the 2 round holes/ports next to the center threaded hole on the pump end of the housing are for direct and forward.

How many clutches are in the direct?

Not a 100% sure I never opened it up but I think it has 5 red cluches and are you talking about the valve body threaded hole at the front near the pump and they would be the 2 holes/ports to the right when looking at it from the tail shaft