YMM1, (3, -1), profitable Strategy, 2.618% profitable

Hi,
Basis YMM1 (June e-mni $5 Dow futures):
Trading from unchanged, 12631, and fading the first move, i.e., -1 of (3, -1):
12631 - the Stretch calculation = 12631 - 27 = 12604 (12601 = low at 21:52PDT).
12631 - 27 = 12604, representing the fade, i.e., -1 of (3, -1)
12604 + 27 + 27 + 27 = 12685 (high = 12692 (12694 = high at 07:01PDT)
This completes the 3 of the (3, -1) formula.

Below you'll find a corrolating 2.618% entry level.

Measuring from the 9 May high, 12677 - 2.618 of the 10 May Stretch = 12677 - 70 = 12607. 12601 = low (21:52PDT)

HI,
Ayn... The long ymm1 at 12496 offsetting at 12540 = $220 per contract, i.., +32% basis $672 intra-day margin. Taking a profit frees up capital for the next trade. So you risked five to seven points to make 44 points ... 6.2 : 1 reward : risk ratio. The (professional futures fund manager) futures industry average reward : risk ratio is 3.2 : 1.
YMM1 printed a low, and tested that low throughout the A session. Today is shaping into one of those typical two-way trading Mondays.

I closed my long position at settlement, no idea for now , nice profits off this long and Euro longs earlier. My strategy today was to scalp the currencies try leave the Dow on. Might get back long if I see support at settlement, candles have long wicks though, must be some battle going on here.

thanks hunter, and great job silverharp on both the dow and euro.

No bigger picture on my side either. I have some resistance in the 580 area and just above that the 1x stretch (from settlement) and the pivot so might be tough to crack that area

Ayn, thanks for pointing out settlement was 4 point off on my chart! the last red 5min bar used it (12556) as support before moving higher.

the 161 is 12616 , high so far is 12610. the dollar(DX) may have made a low for the day but is between stretch numbers. If I was to even consider a short now would need to see a retest of 12616 and a higher low in DX. Otherwise will leave it for the day.

was hoping the es would go to its 1.618 at the open which would have likely pushed ym to its 2.618 stretch...that would have been the ideal scenario for me to get long...