YMM1, (3, -1) profitable 5 May strategy, 1.618% Stretch,
Hi,
Oh yee of little faith, those who claim that the (3, -1) is meerly an academic exercise. Seek you corrolating price projects, and exercise that gristle between your ears. Beef is on the menu boys.
Basis YMM1 ... the set up for this short, besides fading the first move at the 1.618% of today's Stretch calcuation (25 x 1.618% = 38) is a short strategy at 63% correction up in a short term down trend. The 63% bounce from the range defined as the decline, 4 May 01:56PDT high at 12777 to the 4 May low print,p 12621 (4 May 09:52) ... measuring 156 points, and bouncing 99 points to 12720 (63%)
Trading from the previous settlement,... 12672 + 38 = 12710 (12672 + 1.618% of today's Stretch calculation = 12710). The 5 May high, so far, = 12720.
12672 + 38 = 12710
12710 - 38 - 38 - 38 = 12606 (current low, 12583 printed at 07:33PDT)
or ...
12672 + 38 = 12710
12672 - 38 - 38 - 38 = 12558 (current low, 12583 printed at 07:33PDT).
The later count trading from unchanged may yet be achieved. The former has been achieved.
Oh yee of little faith, those who claim that the (3, -1) is meerly an academic exercise. Seek you corrolating price projects, and exercise that gristle between your ears. Beef is on the menu boys.
Basis YMM1 ... the set up for this short, besides fading the first move at the 1.618% of today's Stretch calcuation (25 x 1.618% = 38) is a short strategy at 63% correction up in a short term down trend. The 63% bounce from the range defined as the decline, 4 May 01:56PDT high at 12777 to the 4 May low print,p 12621 (4 May 09:52) ... measuring 156 points, and bouncing 99 points to 12720 (63%)
Trading from the previous settlement,... 12672 + 38 = 12710 (12672 + 1.618% of today's Stretch calculation = 12710). The 5 May high, so far, = 12720.
12672 + 38 = 12710
12710 - 38 - 38 - 38 = 12606 (current low, 12583 printed at 07:33PDT)
or ...
12672 + 38 = 12710
12672 - 38 - 38 - 38 = 12558 (current low, 12583 printed at 07:33PDT).
The later count trading from unchanged may yet be achieved. The former has been achieved.
dont have time to post a chart but got a hit on stretch X 1.618 off settlement about 2 hours ago (Dow). I also ran the numbers on Euro futures and got the same hit so tried a small spot trade, everything in profit so far.
Maybe another fade and an afternoon US rally after the news is out of the way
Maybe another fade and an afternoon US rally after the news is out of the way
the number was good, but got stopped out as it turned around again, my Euro position was profitable though, closed now to look again. The next number up 12624 (2.61) if it gets up there, dow in a little triangle at the moment.
the question will be of course big positions and go for 30ish points, or take the stops and for 70/80points
the question will be of course big positions and go for 30ish points, or take the stops and for 70/80points
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