05/28 – Gains on IWM, UWM – USO, SCO, FXI, FXP

Yes! Nice gains on the IWM trade. Our etf exit signals triggered for IWM and UWM. We gained 2.83% on IWM and 5.34% on UWM, all in just 7 trading days.

All trades were at the market close. Updated charts are posted below.

If you caught my mid-day post yesterday, you took your first short position in either the USO or FXI trade, or both. For the leveraged trade you took your first position in SCO and/or FXP. These are inverse etfs.

We may take a second trading position in the next day or so should USO or FXI close higher and its RSI(2) > 94. All trades are at the market close. Please trade responsibly.

Otherwise, our exit signals are triggered when the closing price for USO or FXI is lower than it’s MA(5), or – for a potentially larger gain – when the RSI(2) is less than 30. You’ll exit the leveraged trades on these signals.

This etf trading strategy is the RSI 90/94 Strategy found in the book by Larry Connors: High Probability ETF Trading. His etf trading strategies have just a few simple rules and you’ll be able to back-test and apply the strategies to the next trading day. Get your copy today and be ready for the next trading session.

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