YMM1, profitable strategy, fade 1.618% of Stretch,
Hi,
The day before Good Friday tends to trade higher on light volume. Basis YMM1 (June e-mini $5 Dow) and the strategy that fades the first intra-day counter trend price move that is approximately 1.618% of the Stretch calculation (31 x 1.618% = 50), this area eventually failed the second attempt to maintain above the 12460 high (21 April high = 12468) and reversed directly to the low, 12389. This high - low range = 12368 - 12389 = 79 points (81 points = 2.618% of the Stretch calculation). With the exception of uni-directional trading days, reversals at 2.618% of the Stretch calculation have produced tradeable probabilities.
21 April YMM1 price rotations (approximately):
Stretch = 31 = X
1.618% of the Stretch = 50
2.618% of the Stretch = 81
The bigger picture: +1.618%X, -2.618%X, +1.618%X
Note: The (3, -1) strategy, basis the Stretch or a Fibonacci of the Stretch, didn't reach the (3, -1) parameters, probably because tomorrow is Good Friday. If you faded three Stretch calculations from the high, which was faded at 1.618% of the Stretch above the previous settlement... 12468 - 31 - 31- 31 = 12375 (12389 = low).
The day before Good Friday tends to trade higher on light volume. Basis YMM1 (June e-mini $5 Dow) and the strategy that fades the first intra-day counter trend price move that is approximately 1.618% of the Stretch calculation (31 x 1.618% = 50), this area eventually failed the second attempt to maintain above the 12460 high (21 April high = 12468) and reversed directly to the low, 12389. This high - low range = 12368 - 12389 = 79 points (81 points = 2.618% of the Stretch calculation). With the exception of uni-directional trading days, reversals at 2.618% of the Stretch calculation have produced tradeable probabilities.
21 April YMM1 price rotations (approximately):
Stretch = 31 = X
1.618% of the Stretch = 50
2.618% of the Stretch = 81
The bigger picture: +1.618%X, -2.618%X, +1.618%X
Note: The (3, -1) strategy, basis the Stretch or a Fibonacci of the Stretch, didn't reach the (3, -1) parameters, probably because tomorrow is Good Friday. If you faded three Stretch calculations from the high, which was faded at 1.618% of the Stretch above the previous settlement... 12468 - 31 - 31- 31 = 12375 (12389 = low).
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