YMM1, profitable strategy, 2.618% Stretch price reversals
Good trading morning,
Previous day's settlement: 12326.
Stretch calculation = 24 = X.
1.618% of the Stretch = 38.
2.618% of the Stretch = 62.
YMM1 Strategy: Targeting an opportunity to fade a 2.618% price extension following through from Friday, 8 April, i.e., beyond unchanged with the opening gap up, A session 11 April. Friday's last hour rally printed a 2.618% of the Stretch and corrected with a price pullback equal to approximately the Stretch. The gap up continued the price rotation higher.
12326 + 2.618%X = 12388 (12391 high print 11 April as of 11:00PDT).
12388 - 2.618%X = 12326 (12322 low print 11 April as of 11:00PDT).
$5 per tick ... intra-day marging (respectively) = $672.50
$5 x 62 pts = $310 = approximately 46% per contract.
Price extensions approximating 2.618% of the Stretch calculation tend to correct. By how much price corrects, where the price measurements should begin and end depend on the intra-day trader's skills and knowledge. Trade what your mind. Learn from others.
Previous day's settlement: 12326.
Stretch calculation = 24 = X.
1.618% of the Stretch = 38.
2.618% of the Stretch = 62.
YMM1 Strategy: Targeting an opportunity to fade a 2.618% price extension following through from Friday, 8 April, i.e., beyond unchanged with the opening gap up, A session 11 April. Friday's last hour rally printed a 2.618% of the Stretch and corrected with a price pullback equal to approximately the Stretch. The gap up continued the price rotation higher.
12326 + 2.618%X = 12388 (12391 high print 11 April as of 11:00PDT).
12388 - 2.618%X = 12326 (12322 low print 11 April as of 11:00PDT).
$5 per tick ... intra-day marging (respectively) = $672.50
$5 x 62 pts = $310 = approximately 46% per contract.
Price extensions approximating 2.618% of the Stretch calculation tend to correct. By how much price corrects, where the price measurements should begin and end depend on the intra-day trader's skills and knowledge. Trade what your mind. Learn from others.
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