In the last video we were talking about MGM being a slingshot trade. Slingshot trades are very easy to figure out, but there isn’t a real easy way to scan for them yet. What you want is something above the cloud that goes below the yellow line, touches the purple line, and then goes back above the yellow line.
The first target for MGM is going to be 27.57. Using fibonacci for the next target, we get 28.25 for the next target. That’s followed by 31.31, 34.38, and finally 36.27.
Good luck, hope it helps. See you on the next video.
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