Strategy: The 1.61 Head Fake Strategy.

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.