116# Slingshot Scalping
Submit by Janus Trader
Time Frame 5 min or higher.
Currency Pairs: all.
- When the 16 crosses above the 34 then we only look to buy on pullbacks.
- When the 16 crosses below the 34 then we only look to sell on pullbacks.
A BUY Slingshot™ setup occurs when price goes quite far below the EMAs quickly (but the EMAs do not cross) and starts rising again.
A SELL Slingshot™ setup occurs when price goes quite far above the EMAs quickly (but the EMAs do not cross) and starts falling again.
Two take-profit strategies:
1 – Exit when take-profit is equal to the number of pips you risked on your stoploss (i.e. take profit at 1:1).