10/12 – ETF Trading – USO, SCO

USO closed lower yesterday. As such, we did not take a second short position in the etf trade. And using the signals for USO to trade SCO, we did not take a second trade in SCO. Updated charts are posted below.

So, as mentioned yesterday, we’ll scale in with up to 3 positions. Take a second trading position should USO close higher today than our entry price – the same for SCO, but closing lower.

Our exit signals for USO are triggered when the etf price is less than it’s 5 day moving average, or – for a potentially larger gain – when the RSI 2 is less than 30. Exit the trade in SCO following the signals for USO.

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

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Updated charts:

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