06/01 – ETF Trading – USO, SCO, FXI, FXP

I hope you had a nice holiday weekend. I hope you took some time to be thankful for those who have given their lives for the freedoms we enjoy today.

To get caught up, we’re into our first short positions in the USO and/or FXI etf trade. For the leveraged trade we have our first positions in SCO and/or FXP. These are inverse etfs.

Take a second short trading position should USO and/or FXI close higher and its RSI(2) > 94. Follow these signals to take a second long position in SCO and/or FXP.

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.

All trades are at the market close. Please trade responsibly.

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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