With BA I generally play price action. I spent some time last evening modelling it in SPSS for intra-day trading (I have a long term regression model of BA already). Came out with some intra-day price target regression formulas. I did some testing last night but got tired and went to bed. Today, I decided to try them out IRL (Which I usually never do without fully testing!) and man, pretty spot on!
My lows (where I was looking for support) were 202.16.
When it hit 203 for the second time and I saw that V shape pattern being respected on the 3 minute chart, I got long.
My price target was 208 based on the formula. It was touchy at first, it looked like it wasn't going to make it! But it did! YAY! :D IT WORKS!
If you're interested here are the formulas:
Low: y = 0.9798x + 1.2992
High: y = 0.9847x + 6.5212
Where X = open price.
So for today, projected low would be:
Y = 0.9798(205) + 1.2992
Y = 202.16 (Projected)
My aim was :202-203
Actual: 203.28
My projected high was:
y = 0.9847x + 6.5212
= 0.9847(205) + 6.5212
= 208.38
My aim: 207.90-208
Actual: 208.24
Have a great weekend everyone!
My lows (where I was looking for support) were 202.16.
When it hit 203 for the second time and I saw that V shape pattern being respected on the 3 minute chart, I got long.
My price target was 208 based on the formula. It was touchy at first, it looked like it wasn't going to make it! But it did! YAY! :D IT WORKS!
If you're interested here are the formulas:
Low: y = 0.9798x + 1.2992
High: y = 0.9847x + 6.5212
Where X = open price.
So for today, projected low would be:
Y = 0.9798(205) + 1.2992
Y = 202.16 (Projected)
My aim was :202-203
Actual: 203.28
My projected high was:
y = 0.9847x + 6.5212
= 0.9847(205) + 6.5212
= 208.38
My aim: 207.90-208
Actual: 208.24
Have a great weekend everyone!
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Get:
- Live Updates,
- Discord access,
- Access to my Proprietary Merlin Software,
- Access to premium indicators,
patreon.com/steversteves
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Easter sale starts April 18th for 50% off!
Get:
- Live Updates,
- Discord access,
- Access to my Proprietary Merlin Software,
- Access to premium indicators,
patreon.com/steversteves
Get:
- Live Updates,
- Discord access,
- Access to my Proprietary Merlin Software,
- Access to premium indicators,
patreon.com/steversteves
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.