05/26 – ETF Trading – IWM, UWM

IWM barely closed lower yesterday, but not lower than our second entry price of last Thursday. Consequently, we’re still waiting to take the third trading position in the etf trade. Likewise for the leveraged etf trade in UWM.

Our etf 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 IWM close lower than 64.12; the same for UWM at 29.37.

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. Stock futures and world markets are higher this morning – perhaps we’ll be able to take some gains!

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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Let the world’s top fund managers guide you in this market – AlphaClone

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