12/10 – ETF Trading – USO, UCO, FXI

With yesterday’s close lower, we’re into a full trading position for USO (and UCO). We’ve scaled into three trading positions over the past several trading days.

From our watch list yesterday, FXI moved lower, and we scaled-into our first trading position. Take a second position in FXI should it move lower again today. SPY and SSO moved higher and we did not enter the trade for these etfs.

Otherwise, we’re waiting for the market to move higher from here. 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!

How do all of these trading signals work? Find out in 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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