ERY - Signaling weakness in Energy?ERY is on the verge of breaking out of a falling wedge from the lows of the chart. Very likely to see a breakout here.
If it fails we will see the lower wedge act as next major support level.
Key stats
About Direxion Daily Energy Bear 2X Shares
Expense ratio
1.08%
Home page
Inception date
Nov 6, 2008
ISIN
US25460G1792
ERY, thru derivative instruments, provides daily 2x inverse exposure to the S&P Energy Select Sector Index, a constituency of energy companies derived from the S&P 500. Remember that this is an extremely concentrated sector, and includes industries such as oil, gas and consumable fuels, and energy equipment and services. The fund is designed to be a short-term trading vehicle and rebalances daily. As a result, compounding and path dependency lead to a lack of predictability in the fund's long-term returns. Prior to March 31, 2020, the fund name was Direxion Daily Energy Bear 3X Shares.
Classification
What's in the fund
Exposure type
Cash
Bonds, Cash & Other100.00%
Cash100.00%
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.
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Hi fellows, just one of my today swingrades:
As you can see ERY bottomed out and forming a bull flag pattern.Rising bull momentum i
ERY LONG position on breakout of downward trendlineAs ERY broke its minor downward trendline and came back down close to a retest, a long position is entered with a tight stop.
Factors leading to the decision:
The small recent downtrend has been broken, then price came back near the trendline to test it
Price has re-attempted the recent high,
ERY Failed PushSeems like we can trap some of the people that shorted below the most recent low. I put this trade on awhile ago, but can still get in at a good price.
ERY Found support at the centerline.ERY zoomed the CL. from the south, came back to it and it looks like it get's some MoMo to the upside.
Price followed the Forks textbook.
So yes, I will try a long with the UL.
P!
ERY - longMight be a good jump here and now.
ERY = shorting energy sector. Oil feels not good, S&P feels not good.
A+B = ERY at 16.
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