03/30 – ETF Trading – FXY

USO closed higher yesterday, negating a trading opportunity. We’ll wait another time to trade USO.

FXY closed lower yesterday, and has been trading lower over the past several days. Consider taking a long position in FXY should the etf close lower today.

FXY – CurrencyShares Japanese Yen Trust is designed to track the price of the Japanese Yen net of Trust expenses, which are expected to be paid from interest earned on the deposited Japanese Yen.

We may take up to 3 trading positions over the next couple of days. Our first position is 1/6 of our total trading amount. Our second position is 1/3 of our total trading amount. Our third trading position is 1/2 of our total trading amount. You could also take positions in a 20-30-50 ratio. All trades are at the market close. Please trade responsibly.

Assuming we get into the trade, our exit signals are triggered when the closing price for FXY is higher than it’s 5 day moving average, or – for a potentially larger gain – when the RSI 2 is greater than 70.

Learn why the Japanese Yen is now a good etf trading opportunity 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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