08/04 – ETF Trading – USO, SCO

USO closed higher yesterday and you took your first short position in the etf trade. For the leveraged etf trade, you took your first position in SCO. Updated charts are posted below.

As mentioned yesterday, We’ll scale in with up to three 3 positions. So, take a second trading position should USO close higher today – the same for SCO. Otherwise, our exit signals for USO are triggered when the etf price is less than it’s MA(5), or – for a potentially larger gain – when the RSI(2) is less than 30. Trade SCO on the signals for USO.

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

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Updated charts:

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