Om Namah Shivay
Statistics :
1. From our study of 5 days trend analysis, where the opening trend direction changes after few hours - All show similar trend.
2. The first direction change in few hours, have a consistent target price, when the trend is reversing in between.
Result :
1. A 1.618 extension is the price range for the reverse direction change target.
2. The 1.618 is mostly consistent, few some scenario it is above 1:1 extension target.
3. A trade can be initiated, when the opening trend change is seen, with a price target of 1.618, with trailing stop going on 1:1 extension, when price move ahead of 1:1 towards 1.618.
Statistics :
1. From our study of 5 days trend analysis, where the opening trend direction changes after few hours - All show similar trend.
2. The first direction change in few hours, have a consistent target price, when the trend is reversing in between.
Result :
1. A 1.618 extension is the price range for the reverse direction change target.
2. The 1.618 is mostly consistent, few some scenario it is above 1:1 extension target.
3. A trade can be initiated, when the opening trend change is seen, with a price target of 1.618, with trailing stop going on 1:1 extension, when price move ahead of 1:1 towards 1.618.