In an effort to improve or reinforce my MADA during lateral movement, I thought I would post my MADA and a chart snippet showing an area of lateral movement from last Thursday (4/24). I find I am unsure of the analysis/decision portion of my MADA when it comes to overriding signs of change within lateral movement. I thought this lateral movement example provided a good basis to see how solid my MADA is in these situations. Any feedback from those who feel confident in such areas is appreciated.
My software time stamps based on bar close, but the times in my MADA are based on bar open.
13:35 â 14:15 Pt1 (FTT) to Pt2 movement; price is making highs of the day â no potential for Pt3 down; action reverse long and hold
14:20 Inside Bar on dec. vol. forming Sym Pennant; very low volume shows potential dip flaw; action: hold
14:25 Outside Bar on inc. black vol. beginning Lateral Formation; possibilities: still in movement to Pt2 (WMCN: inc. black), moving laterally to Pt3 (WMCN: dec. black or red) or retrace to Pt3 (WMCN: inc. red breaking bottom of lateral); action: hold
14:30 Price moves up on dec. black vol., still in Lateral Formation; anticipating lateral movement from Pt2 to Pt3, still possibility for retrace to Pt3; action: hold
14:35 Outside Bar on dec. red vol., still in Lateral Formation; still moving laterally to Pt3; action: hold
14:40 FBO of lateral on dec. red vol. with IBGS close, now in Lateral Movement; possibilities: still moving laterally or retracing to Pt3 (WMCN: dec. black or red) or now have Pt3 (WMCN: inc. black), WMnCN: inc. red which would anticipate movement Pt1 to Pt2 down; action: hold
14:45 FBO of lateral movement on inc. black vol. with price closing where it opened near low of the bar, still in Lateral Movement; Pt3 has been confirmed, but price could not BO of lateral and finished near lows, we have signs for change, but have not had VE or flaw; action: hold
14:50 FBO of lateral movement on inc. red vol. with price also breaking and closing outside of RTL; we have change - anticipating movement from Pt1 to Pt2 down (WMCN: inc. or dec. red), dec. black would anticipate movement to Pt3 down, WMnCN: inc. black; action: reverse to short
14:55 Inside Bar on dec. vol. forming Sym Pennant; still in Lateral Movement with potential dip flaw; action: hold
15:00 Outside Bar with BO of Pennant on inc. black vol., still in Lateral Movement; anticipate change, but volume still lower than first bar of Pennant so potentially retracing Pt2 to Pt3 down (WMCN: dec. black, dec. red, inc. red), WMnCN: inc. black giving us new Pt3 up; action: hold
15:05 FBO of lateral movement on inc. black vol., still in Lateral Movement; we have inc. black volume confirming new Pt3 up and no possibility for Pt3 down any longer (WMCN: inc. or dec. black), potential for continued lateral movement with dec. red, WMnCN: inc. red; action: reverse to long
15:10 Inside Bar forming FBP, still in Lateral Movement; previous bar potential FTT; action: hold
15:15 BO of Lateral Movement on inc. red vol.; we have change with 15:05 bar confirmed as FTT, anticipate movement from Pt1 to Pt2 down (WMCN: inc. or dec. red), slim possibility for dec. black retrace to Pt3 down, WMnCN: inc. black; action: reverse to short
<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1903970>
Thanks,
-A
My software time stamps based on bar close, but the times in my MADA are based on bar open.
13:35 â 14:15 Pt1 (FTT) to Pt2 movement; price is making highs of the day â no potential for Pt3 down; action reverse long and hold
14:20 Inside Bar on dec. vol. forming Sym Pennant; very low volume shows potential dip flaw; action: hold
14:25 Outside Bar on inc. black vol. beginning Lateral Formation; possibilities: still in movement to Pt2 (WMCN: inc. black), moving laterally to Pt3 (WMCN: dec. black or red) or retrace to Pt3 (WMCN: inc. red breaking bottom of lateral); action: hold
14:30 Price moves up on dec. black vol., still in Lateral Formation; anticipating lateral movement from Pt2 to Pt3, still possibility for retrace to Pt3; action: hold
14:35 Outside Bar on dec. red vol., still in Lateral Formation; still moving laterally to Pt3; action: hold
14:40 FBO of lateral on dec. red vol. with IBGS close, now in Lateral Movement; possibilities: still moving laterally or retracing to Pt3 (WMCN: dec. black or red) or now have Pt3 (WMCN: inc. black), WMnCN: inc. red which would anticipate movement Pt1 to Pt2 down; action: hold
14:45 FBO of lateral movement on inc. black vol. with price closing where it opened near low of the bar, still in Lateral Movement; Pt3 has been confirmed, but price could not BO of lateral and finished near lows, we have signs for change, but have not had VE or flaw; action: hold
14:50 FBO of lateral movement on inc. red vol. with price also breaking and closing outside of RTL; we have change - anticipating movement from Pt1 to Pt2 down (WMCN: inc. or dec. red), dec. black would anticipate movement to Pt3 down, WMnCN: inc. black; action: reverse to short
14:55 Inside Bar on dec. vol. forming Sym Pennant; still in Lateral Movement with potential dip flaw; action: hold
15:00 Outside Bar with BO of Pennant on inc. black vol., still in Lateral Movement; anticipate change, but volume still lower than first bar of Pennant so potentially retracing Pt2 to Pt3 down (WMCN: dec. black, dec. red, inc. red), WMnCN: inc. black giving us new Pt3 up; action: hold
15:05 FBO of lateral movement on inc. black vol., still in Lateral Movement; we have inc. black volume confirming new Pt3 up and no possibility for Pt3 down any longer (WMCN: inc. or dec. black), potential for continued lateral movement with dec. red, WMnCN: inc. red; action: reverse to long
15:10 Inside Bar forming FBP, still in Lateral Movement; previous bar potential FTT; action: hold
15:15 BO of Lateral Movement on inc. red vol.; we have change with 15:05 bar confirmed as FTT, anticipate movement from Pt1 to Pt2 down (WMCN: inc. or dec. red), slim possibility for dec. black retrace to Pt3 down, WMnCN: inc. black; action: reverse to short
<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1903970>
Thanks,
-A
:eek: