03/16 – ETF Trading – GLD, UGL

GLD closed higher yesterday. As such, you did not take the third trading position in the etf trade. Likewise for the leveraged etf trade in UGL.

Our trading strategy is to scale in with up to three 3 trading positions, but we’ll wait for the market to present the trading opportunities. Take a third trading position today should GLD close lower than 107.95 – the same for UGL at 44.68.

Otherwise, our exit signals are triggered when the etf price is greater than it’s MA(5), or – for a potentially larger gain – when the RSI(2) is greater than 70.

Updated charts are posted below. All trades are at the market close. Please trade responsibly.

Join me everyday to follow these etf trading signals. All of the signals and strategies I use for etf trading are found in the book by Larry Connors: High Probability ETF Trading. His etf trading strategies have only a few rules and you’ll be able to back-test and apply the strategies to the next trading day. With easy to follow trading strategies, clear explanations, and years of tested results, there is no better place to start finding new trading edges than in High Probability ETF Trading. Get your copy today and be ready for the next trading session.

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