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DRIP

USO Oil ShortUSO on the 60 minute chart is currently in a broadening wedge and reflecting down off a reversal at the upper resistance trend line. The MACD lines have crossed over the histogram and are trending down showing moving average convergence. Price is between the mean and first upper band lines and moving down toward the former. Current factors at play include an OPEC+ meeting, Russia working around sanctions, increased demand of the summer driving season, federal rate action projections as well as those in Europe and the ongoing conflicts in the Middle East. I will short USO here targeting 74 at the bottom of the wedge pattern.
AMEX:USOShort
by AwesomeAvani
Bullish Reversal on DRIP/BUSD: Falling Wedge Pattern UnveiledGreetings, Traders! Today, I want to share an exciting technical analysis finding on the trading pair of DRIP (the DeFi protocol) and Binance USD (BUSD). A falling wedge pattern has been identified, indicating the potential for a bullish reversal in the near future. Let's delve into the details! 📈 Trading Pair: DRIP/BUSD 📅 Timeframe: Daily Chart 📊 Pattern: Falling Wedge 📉 Understanding the Falling Wedge Pattern: A falling wedge is a bullish chart pattern characterized by converging trendlines that slope downward. Typically formed during a downtrend, it suggests diminishing selling pressure and the potential for a reversal. This pattern indicates the possibility of an upward price movement. 🔍 Identifying the Falling Wedge on DRIP/BUSD: Upon analyzing the daily chart of DRIP/BUSD, the following observations come to light: 1️⃣ Recent downtrend: The trading pair has experienced a decline in price over the past weeks. 2️⃣ Converging trendlines: The upper trendline connects the lower highs, while the lower trendline connects the lower lows. 3️⃣ Decreasing trading volume: As the falling wedge pattern forms, the trading volume has been declining, indicating a potential reduction in selling pressure. 📈 Price Targets and Trading Strategy: If the falling wedge pattern on DRIP/BUSD plays out as anticipated, a potential bullish breakout above the upper trendline may occur, leading to a reversal and potential price appreciation. Consider the following price targets: 1️⃣ Target 1: Resistance level near $40.00 2️⃣ Target 2: Psychological resistance near $50.00 🛡️ Risk Management: Managing risk is essential for successful trading. Implement the following risk management techniques: 1️⃣ Set a stop-loss order below the lower trendline to protect against unexpected price movements. 2️⃣ Adjust position size based on your risk tolerance and overall portfolio management strategy. 🔔 Conclusion: Keep a close eye on the DRIP/BUSD trading pair as it develops this falling wedge pattern. The pattern suggests the potential for a bullish reversal on the horizon. However, please note that technical analysis is not infallible, and market conditions can change rapidly. Combine this analysis with other relevant factors before making any trading decisions. Disclaimer: This post is for informational purposes only and should not be considered as financial advice. Always conduct your own research and consult with a qualified financial professional before making any investment decisions. Happy Trading! 📈💰 #tradingview #technicalanalysis #fallingwedgepattern #DRIP #BUSD #DeFi #cryptotrading #chartpatterns #bullishreversal #tradingstrategies #investing #finance #marketanalysis
DLong
by STP_MrNodeItAll
10
NRGD a 3X Leveraged ETF that shorts oilNRGD goes up when oil goes down; this ETF tracks the oil futures ; it is leveraged and managed. Here on the one-hour chart with an Bollinger Bands and EMA bands indicator added, it can be seen that price had been trending down in two waves beginning June 1st , Upon dropping outside the BB lower line, price reversed upward to reach the upper BB line and reversed again. Finally, price dropped outside the BB lower line and reversed this past Thursday. The RSI oscillator has recently trended between 65 and 40, suggesting healthy price action without and oversold or overbought conditions. As it is now trending up again. I see it as suitable for a l long trade. I have plotted horizontal resistance lines in order to plan a tiered exit from a trade of 4 shares where I will partially close the position by selling a share each time price reaches one of those lines. At the same time, I will move the stop loss up to midway between its l location and that line. I will repeat this until all shares are sold. I am expecting a 12% profit overall for a week-long trade. This will be a free trade without risk after the first move of the stop loss to above the entry point. If the RSI remains below 80, I may let the last share run until I am alerted that price has hit the BB upper line by an alert or alternatively set up a trailing stop loss of 2%.
NLong
by AwesomeAvani
USO Up or Down OIL ECOMONY in fluxAs certain countries want to exchange oil for money with anything but USD such as Chinese Yen or even a cryptocurrency to be launched by US neutrals or adversaries cooperating, USO on this chart rose dramatically over the past month and is now sitting at resistance as shown by the LuxAlgo Supply and Demand Zone indicator. The RSI shows possible bearish divergence perhaps heralding a reversal of the uptrend. I see this as a good place to take a short sell entry and most buyers have taken their profits. Fundamentally there are enough competing geopolitical and macroeconomic factors to deprive USO of the energy to push through resistance. See also the link below from US federal forecasters. I see this as a short trade at a limit price below the resistance zone and stop loss above it. Profit targets can be the VWAP, the midline between the supply and demand zones as a 50% Fibonacci retracement of the uptrend and finally one standard deviation below the anchored VWAP making for a safe three-tiered take-profit procedure to optimize profit and diminish risk also adjusting the stop loss at intervals using ATR as a guide. 40% at each of the first two targets and the remainder at the last. Put options 20-30 DTE at the a strike above the resistance zone for a good delta are another consideration.
AMEX:USOShort
by AwesomeAvani
1
Oil Short via Direxion's Inverse $DRIPI have entered a leveraged (2X) short in #oil, via Direxion's Inverse $DRIP ETF. NOTE: This post shows "LONG" because I have BOUGHT $DRIP; #Oil, as the asset class - I am viewing as a SHORT. Not much else to say, other than the #oil #selloff is underway after forming what I see as a double top (see WTICOUSD) and a good risk/reward entry to short. I will continue to provide updates on this one, and as usual, the chart will dictate how to manage the trade. You may recall, I bought oil, via Direxion's $GUSH ETF back in September 2021 (returning over 50%); I officially closed the oil-long ($GUSH) position in April 2022. Let’s see if the oil selloff translates at the gas pump. God Bless!
AMEX:DRIPLong
by ChiefMacro
2
LONG TERM Dividends TA on ENB?Technical Analysis $ENB for a friend looking to add $ENB as a long-term investment ENBRIDGE has been making gains and is a great Low P/E High Value Dividend Investment here is a TA that brings us into 2026 $ENB Is no doubt a safe long-term investment no matter the price but that being said in this current GeoPolitical new world ENBridge could also show some growth potential that could send this stock price into a much higher tier with not much downside risk
TSX:ENBLong
by bmoneytree
1
AMEX:DRIP long Just an idea for possible long positions on AMEX:DRIP for a long-term swing. There's room for more downside, possibly to the next leg of support, as I've added by the pitchfork trendline entries. As we've not seen an actual bottom yet, it's all speculation at this point, but oil (for vehicles and shipping) is slowly being pushed to the margins; and with an increased chokehold on crude and the tax hikes across the states in the US that use it the most for commercial and consumer applications, a shift towards alternatives would help propel a bearish sentiment. This of course is just my speculation, I have made an entry, and plan on another if it doesn't hold. Any questions, feel free to ask. Also, possible inverse H&S forming on the Daily chart.
AMEX:DRIPLong
by scindo
$DRIP Target 31.02 for 61.73% Or next add level is at 7.34$DRIP Target 31.02 for 61.73% Or next add level is at 7.34 This is another insane setup that you should only trade at your own risk... it might take a little time to play out. Ride or Die, y'all... be careful with this one as trading contracts is a little different from regular stocks. I am not your financial advisor. Watch my setups first before you jump in… My trade set ups work very well and they are for my personal reference and if you decide to trade them you do so at your own risk. I will gladly answer questions to the best of my knowledge but ultimately the risk is on you. I will update targets as needed. GL and happy trading.
AMEX:DRIPLong
by SPYder_QQQueen_Trading
1