10/29 – ETF Trading – IWM, UWM, EWC, EWT, EWY
We’re now into a full trading position for all of the etfs we’ve been following the past week – IWM, UWM, EWC, EWT and EWY. We’ve scaled-into three trading positions for each etf over the past several trading days.
EWY moved lower yesterday, and we scaled-into our third trading position. With yesterday’s big sell-off, this may be, potentially, our best trade once the markets bounce back.
So, let’s just wait for the market to move higher from here. GDP and employment numbers are due this morning, and with some positive surprises, the market, and our trades, could have a big bounce. Our exit signals are triggered when the etf price is greater than it’s MA(5), or – for a potentially larger gain – when the RSI(2) is greater than 70.
All trades are at the market close. Please trade responsibly!
Discover the research behind all of these etf trading signals. Get the book by Larry Connors: High Probability ETF Trading. His etf trading strategies have only a few rules and you’ll be able to back-test and apply the strategies to the next trading day. With easy to follow signals, clear explanations, and years of tested results, there is no better place to start finding new trading edges than in High Probability ETF Trading – available at Amazon.com or save $10 at TradingMarkets.com.
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