Dec YM, Crable's Stretch, intra-day
Thank you for this platform, and your many years of informative trading cogitations. I tend to intra-day trade fading the first move and measuring Tony Crable's Stretch calculations, e.g., 1.618, 2.618 and 4.25. Where Monday's and Friday's tend to be two-way trading ranges, e.g., after a low reliability bullish reversal / continuation Bullish White Opening Marubozu. Fading any price above the previous day's Bullish White Opening Marubozu by Tony Crable's Stretch (11-19: 18=X, ... 1.618X=29, 2.618X=47 and 4.25X=76 produced tradeable reversals. 11-19 example: trading from unchanged, 11076- 1.618X = 11047, where that, the first reversal low was 11041. 11041 + 46= 11187, which was one point less than 2.618X. Now the adjustment to trading from unchanged, i.e., 11076-76=11100, which was five points above the December e-mini $5 Dow daily low for November 19. If this was too wordy, let me know. In summary... taking 27 pts is an 18% increase basis $670 intra-day margin for the YMZ0 futures contract.
Correction: The Stretch calculation and the corresponding Fibonacci price rotations, (Stretch=18=X, 1.618X=29, 2.618X=47, and 4.25X=76) should reflect reversals...
11176-1.618X=11147 (6 pts above 1st rotation low, 11141)
11141+46=11187 (which is one point less than 2.618X)
Then fading the previous settlement,11176-76=11100 (11-19 low:11095).
11176-1.618X=11147 (6 pts above 1st rotation low, 11141)
11141+46=11187 (which is one point less than 2.618X)
Then fading the previous settlement,11176-76=11100 (11-19 low:11095).
what instrument are you calculating the "stretch" on?
and his name is Toby not Tony
and his name is Toby not Tony
Thanks Paul, I've applied the link to Toby Crabel's Stretch calculation: http://www.mypivots.com/dictionary/definition/206/stretch
I like the fade the first move strategies, the (3, -1) fromula and the Pitbull method. How often are the narrow range days supporting the "fade the first move?"
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