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Here's the "Slingshot" buy setup from "Hit and Run Trading":
1- Day one: stock makes a new two-month high.
2- Day two: the market takes out the day-one low by at least 1/8.
3- Day two or three only: Buy if the stock trades 1/8 above the day-one high.
4- Risk two points.
(Sells are the reverse.)
Regards,
Bill
> I noticed in an ad for Jeff's book that he discusses how > to trade "slingshots". The entry setup that I have developed > has been referred to as a slingshot. Having no knowledge of > Jeff's work, I was hoping to hear from some of you that have > Jeff's book as to what exactly Jeff means by a slingshot setup. > I would be very interested to see if we're talking about the same > thing. Names like these often get assigned to different types > of setups by different people, so you can't be sure what they > mean.
=========================================== -- Exceptional books and services for short-term traders. -- ---- ”If you trade from twenty minutes to three days, you’re in our time frame.” ----
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