06/16 – ETF Trading – USO, SCO, FXI, FXP

USO closed higher yesterday, enough to trigger taking a second short position. Take a third and final short trading position only if the closing price of USO moves higher from here. Use this signal to make the trade for SCO, as well.

FXI closed higher yesterday, enough to trigger taking our third and final short position. You may also have a full trading position in FXP.

So now we’ll just wait for our etf exit signals to trigger. 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 etf trades are at the market close. Please trade responsibly.

Learn more about etf trading strategies 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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