SKF: High Probability Setup
August 28, 2008 – 10:57 pm
I thought about giving this post the title of “Don’t Think; Buy SKF.” My superstitions got the better of me.
The facts are that this setup has appeared 15 times over the life of [[SKF]] . Had it been bought at the next market open following the setup, 12 of the trades would have been winners, for an 80% win rate. The rule has SKF sold the next market open after RSI(2) closes above 80.
Here are the stats from all the trades.
Each trade was 10,000 and a 10% stop was used. Note the average trade, both winning and losing, lasts about 5 days.
SKF is at a critical level here. If this trade fails, and SKF breaks support, it could get very ugly. A stop must be used.
trust this call works better than gold; shedd. I think it will work.
August 28th, 2008 at 11:40 pmLets hope so Buylo. I don’t post these kinds of setups very often, but I trade them fairly often. It would be funny if the ones I don’t write about work, and the ones I do write about don’t work.
Well, maybe not funny, but you get my point.
August 28th, 2008 at 11:51 pmI like this for next week.
August 28th, 2008 at 11:51 pmI’ve never had a stronger reading in my scrotum indicator that the market shits the imperial shower next week.
August 29th, 2008 at 12:15 amArch, (who responded to this post in the comments section of the previous post) I am saying that SKF is a buy, based on past history.
Don’t pay attention so much to the chart, although it is setting up right at support. RSI2 near lows, combined with SKF falling to support, is a money setup.
August 29th, 2008 at 12:18 amI’m going to have to remember SKF. But I think I will wait and see if I can get it under the August low.
August 29th, 2008 at 7:12 amEased into a half position late yesterday. Timing on your post is helpful confirmation. Good one again, Shedder.
August 29th, 2008 at 9:37 am