ERX a leveraged ETF reflects the energy sector rise LONGERX as shown on the daily chart shows a VWAP band breakout into the mean VWAP
from the lower VWAP lines coupled with a rising momentum on the PMO targeting
72 as the YTD pivot high. Given this is a leverage play in the supertrend shift in a
major sector I see this as a low risk moderate reward potential type of trade
I will take this trade long expecting to reap simple modest unrealized profit.
The stop loss is @ 58.6 while the upside is 10%. Please comment if you need
more details or are requesting a call option setup specifics.
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ERY
ERX Energy is backERX is a leveraged ETF tracking the energy sector. On the 4H chart it has been in a downtrend
since mid-March. IT dropped to the bottom of the high volume area on the long term profile
as well as the lowermost VWAP band. Firday May 12th marked the reversal with buying volume
replacing selling volume and then a significant rise in price in the past week.
On the AI moving moving average indicator, the optimized shorter Hull moving average
(red line) has crossed over the longer EMA moving average ( blue line) as has the price.
I conclude the energy sector is heating up. My new idea on BOIL supports this. I will take
trades with energy in mind and review big oil stocks and natural gas stocks as well as
pipeline and oilfield services stocks.
ERX Energy Leveraged ETF LongERX is a bullish leveraged ETF for the energy sector similar to XLE.
On the 30 minute chart, the supply and demand zones are displayed from
the Luxalgo indicator. The midline between them is the red line which
is confluent with the POC line of the volume profile.
On the prior down trend last week, price got support from that line
and bounced back to the supply zone above.
On the present down trend price broke the line which has now
become resistance. At present it is sitting on the demand zone
and bounced off it into a reversal this morning.
The Zero Lag MACD confirms this with rising K and D Lines crossing
the zero line and the histogram flipping positive.
My long trade is targeting the redline between supply and demand zones
@ $ 60.25 while the stop loss is at the top the demand zone at $ 58.15
From an entry of $ 59.15 this is $ 1.00 of risk for a targeted reward
of $ 1.10 making the R/R essentially 1:1 I see this as a safe long
trade with low risk and low reward.
ERX Energy Play Head and Shoulders BearishOn the one hour chart, ERX ( triple energy ETF) completed a head and shoulders
and is now downtrending with a crash through the EMA 100 and EMA 200
and now one standard deviation below the VWAP. The Momentum Indicator
shows downside momentum is greater than it has been in recent months.
The inverse ETF called the ERY would be expected to be the inverse of this.
The XLE would be similar but not triple leveraged.
This appears to be setup for a good long term swing short or a put option
expiring in late January or February.
Short Energy sector 🛢️ - Swingtrade, high Risk/Reward trade If you like the idea, do not forget to support with a 👍 like and follow or comment.
Leave a comment that is helpful or encouraging. Let's master the markets together.
Hi fellows, just one of my today swingrades:
As you can see ERY bottomed out and forming a bull flag pattern.Rising bull momentum is there clearly represent by divergence on Momentum and CCI indicators. Today will be good opportunity to get in.
------------------------Trade setup ---------------------------
Entry: 34.34
Stop Loss: 32.75
Profit target: 39.76
Time stop: 5 days
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GUSH Long ideaIf you have been watching oil and the energy sector you've seen quite a decline lately. It could be that the energy sector bottomed 2 days ago. Look at that lower trend line. touched several times and very nice gains after ward. I would be willing to bet the bottom is in for GUSH. I usually like to wait to see the price regain the 10 sma and get above the supporting moving averages. BUT, if your brave. A low risk setup because you can set your stop at the recent low.
USOILUSOIL is suffering a severe pullback. Dropping form a high at $51.43 its now at $46.43. I had originally had the 12345 going up to $60. I am now thinking we had the 12345 complete at $51.43 and are now going through a ABC correction. If A and C are equal we could go as low as $44.57. If we get a double bottom here it could be over.
USOILUSOIL hit my $50 target last week and appears to be rolling over after hitting the resistance area in the blue box. The EW pattern is complete at $50 so an ABC correction is expected. RSI and %R are both overbought. volume dropping off.
I'm taking a small trade in ERY here near a double bottom.