The 6th and 7th bars in the chart snippet created a SP. This became a LF on Bar 8. Bar 9 FBO'd the LF, creating LM. The LM ended on Bar 12 with a LM BO.
Thank you Spydertrader Things are coming together, mental block going away. I really appreciate your patience
It may be a good idea to post a link to what you believe to be a Spydertrader's definition according to which a Lateral Formation exists there. That way anybody who is able and willing to participate does not have to go through 74 posts, where words Lateral and Formation are mentioned by Spydertrader to locate that piece of data that may be helpful. It was not meant to be sarcastic, I simply remember one of the posters creating a picture detailing bar combinations leading to various combinations which follow the pennant, I just don't remember specifically where it is.
As ticktrade said in your quote: "Bar 4 exceeds the high of bar 1, changing it from a lateral formation to lateral movement". It ended in a LM and that is the way it was labeled by Spyder. So it transitioned from a Sym Pennant to a Lateral Formation, then to a Lateral Movement at the point of the FFBO. You both are saying the same thing.
This is the links to internal fomations from Futures journal: http://www.elitetrader.com/vb/showt...ghlight=spydertrader september&pagenumber=888 http://www.elitetrader.com/vb/showt...ghlight=spydertrader september&pagenumber=886 Still looking for that post.