ERX 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...
ERX 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. ...
ERX 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...
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.
On 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...
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...
If 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...
Possible Ascending Triangle here, let's see where it goes. Good luck.
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!
Looking at the charts for USOIL, all I can see is a Harmonic patter forming. The Bullish, Bat pattern will typically retrace to 88.6% of the previous XA run up. This would put USOIL at $37 a barrel. I won't short this, but if it gets to $37 I will go long in energy.
USOIL 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.
USOIL 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.