Hubert Senters here.
Let’s take a look at a potential sliongshot trade. Now, you can name these things anything you want to name them. I just like naming them interesting or crazy names.
This is because it makes easier to remember so once you’re kicking doing on your trade set-up it’s neat to find the set-ups that you like and then name them something cool and it’s easier for you to remember. It’s kind of like your own special recipe.
Here’s the rule set for a slingshot trade. So I want to be in a valid uptrending equity or market. I want to be above the turning line. I want to close below the turning line which is the yellow line.
And then I also want it to either touch or trade below the standard line which is the purple. This is all just the fancy way of saying I want to go below the yellow and then the purple.
And then I want it to work its way back above the purple and then the yellow. And it should act like a little slingshot and slingshot the prices higher.
Good luck. Hope it helps. See you on the next video.
Hubert.
