Iterative Refinement
- Thread starter Spydertrader
- Start date
cunparis,
The links that callmate provided you are one of the rare exceptions where you would be benefited by going ahead and reading and learning Spyder's posts on identifying flaws and laterals. The caveat here is to remember you are only looking ahead to improve the monitoring phase of your MADA. Do NOT concern yourself with any discussion of why it is important to recognize the differences between one flaw or another, or when you should recognize you have a flaw and what that is telling you. All those things relate to the Analysis portion of MADA (and is why the discussion was held off until later in the Futures Journal).
It is imortant for you to recognize flaws/laterals right now for the sole purpose of providing clarity to your channel drawing and gaussians. Where certain areas may currently provide you confusion with matching channels and gaussians, the ability to recognize flaws and laterals (first in retrospect and then as they are occuring) will allow you to better identify the appropriate chart annotations (and make any needed corrections).
-Atari
Excellent advice from Ivo, I would just add for clarification that while you need increasing volume to confirm you have a Pt3, the increasing volume will not always come on the bar that forms the Pt3. Simply pointing this out b/c in the past people have misinterpreted the above statement as a requirement that the actual Pt3 bar must have inc. volume.
-A
