Monday, October 20, 2008

Squeeze - SKF

5 minute chart
(Double Click Picture for a Larger View)
Stock: SKF Ultra Short Financials
Entry Bar: 17
Entry Green Line: 135
Stop Red Line: 133.62
Result: sell 1/2 1R, stop to even trail rest with 8ema, scale out 1/4 ar 2R option -

Notes: Again this is a setup I have been experimenting for some time. I will not add this setup to my business plan unless it proves consistent and profitable for some time. http://howidaytrade.blogspot.com/2008/10/squeeze-uwm.html
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This is a quick hitter, get that pop on a nice consolidation break when the Bollinger Bands come out of the Keltner channels, look to see if there is some sort of consolidation on the 5 minute chart. This one was really banging on the 135 number and broke when the squeeze occured.

Learn to trade gaps

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