The 1.61 head fake strategy is intended to give early signals of where a high/low might be and be an early tell on the potential turn of the trend.
This strategy can be used for both pullbacks and reversals.
When traded as a correction, this strategy usually is successful in the forecasting and trading of the end of Elliot wave 5 heading into the ABC.
Absolute highs and lows can also be made with this 1.61 head fake.
Breaking of the 2.20 fib triggers failure of this strategy.
This strategy can be used for both pullbacks and reversals.
When traded as a correction, this strategy usually is successful in the forecasting and trading of the end of Elliot wave 5 heading into the ABC.
Absolute highs and lows can also be made with this 1.61 head fake.
Breaking of the 2.20 fib triggers failure of this strategy.