iBankCoin
Joined Nov 11, 2007
1,458 Blog Posts

SKF: High Probability Setup

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.

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7 comments

  1. buylo

    trust this call works better than gold; shedd. I think it will work.

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  2. Woodshedder

    Lets 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.

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  3. The Fly

    I like this for next week.

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  4. Danny

    I’ve never had a stronger reading in my scrotum indicator that the market shits the imperial shower next week.

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  5. Woodshedder

    Arch, (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.

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  6. iio

    I’m going to have to remember SKF. But I think I will wait and see if I can get it under the August low.

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  7. Caffeinated

    Eased into a half position late yesterday. Timing on your post is helpful confirmation. Good one again, Shedder.

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