06/03 – ETF Trading – USO, SCO

Markets rebounded yesterday and so did oil.

We’re still waiting for our etf exit signals to trigger for our short trade in USO. The inverse, leveraged etf trade is in SCO.

Our exit signals are triggered when the closing price for USO is lower than it’s MA(5), or – for a potentially larger gain – when the RSI(2) is less than 30. We’ll exit the leveraged trade in SCO using the signal for USO.

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

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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