(3, -1) formula, Stretch calculation Fibonacci,13 Oct and 6 Oct


Thanks for the www.mypivots platform Guy,
This is a follow up demonstrating how the (3, -1) formula prints price measurements, giving further reason why you may want to consider how the (3, -1) formula may apply to intra-day trading e-mini $5 Dow futures, e.g., in a short term inter-day trending market.
‎13 October: The (3, -1) YMZ1 (December $5 Dow) .... Trading from the open (not unchanged) ... 11422... 11422 + (0.618% of the Stretch calculation) = 11422 + (40) = 11462. 11476 = the high. 11476 - 40 - 40 - 40 = 11342. 11312 = low. The (3, -1) formula price action is printing price measurements again. ;-)

The 6 October e-mini $5 Dow futures Stretch calculation (87) ... times 0.618 = 53. The 5 October close was 10838. 10838 - 53 = 10785. 10787 was the 6 October low. This is how I apply fading the first move and measuring a price objective of three times that initial price move (decline in this case) from the open, i.e., (3, -1) where (-1) equals the 'Y' axis in the (X, -Y) formula. By applying the Stretch calculation from that low, i.e., 10787, ... 10787 + 87 + 87 + 87 = 11048... 11065 was the 6 October high.