Saturday, July 16, 2016 12:57:39 PM
More on MAC Trend and Slingshot patterns ...
Although it does occur with divergences at bottoms, the MT SLING pattern is more often a
trend continuation trade than a bottom reversal trade.
The short term nature of the stochastic creates Slingshots very frequently but they often form without any other collaborating signals.
Relative to the "failure" rates of stand alone Slingshots vs MT Slingshots, those that form
with a horizontal or up-sloping MAC Trend are the better trades to take.
Although it does occur with divergences at bottoms, the MT SLING pattern is more often a
trend continuation trade than a bottom reversal trade.
The short term nature of the stochastic creates Slingshots very frequently but they often form without any other collaborating signals.
Relative to the "failure" rates of stand alone Slingshots vs MT Slingshots, those that form
with a horizontal or up-sloping MAC Trend are the better trades to take.
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