Safe Sling Shot Trades
When is it a safe bet to enter a continuation trade? Always look back to the most recent support or resistance
We had a Globex High overnight with a continued down at the open. The Sling Shot at this point was quite clear, but if you do not trust it, you can wait for the price to drop through an overnight low. Using all the indicators, you can see that you miss a few points, but three more points are made
Second and Third Moves
How do you determine the difference between a Ka Ching and a Sling Shot. Here you get a Sling Shot signal, but you are not two points from the EMA so it is best to wait. Logically, you are only on the second leg down, so the odds say to wait for a Sling Shot Move.
ANALYSIS
When to get in? Always look back to see previous support and resistance and if you get a break through or break out, the odds are in your favor to go with the move.
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