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Dec YM, fade 1st move, Fib % Stretch, target (3, -1) satisfied


This is pretty interesting stuff. Basis Dec YM: 2 Dec Stretch calculation = 23=X, 1.618X=37, 2.618X=60 and 4.25X=97.
1.) Trading from unchanged: fade (enter into longs) THE first counter trend move by the Stretch calculation, i.e., 23. [Note: 1 Dec high, 11268-2.618X = 11208. 2 Dec low= 11208. However, trading from unchanged, 11233, 11233-X=11210... 2 Dec low 11211].
11268 - 1.618X = 11231 (1 Dec settle: 11233). Fading follow through lower into the 2 Dec A session open by the Stretch (23) in an up trend, 11233 - 23 = 11210 (2 Dec low 11211).

With this fade the first counter trend move, apply price move projections basis the Fibonacci Stretch ratios as follows: with the trend: (3, -1) and counter trend (3, -1), (3, -2) and (3, -3). 11233+69=11302. Note: 11233+97= 11330 (2 Dec high: 11366 at 13:21CST).