$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...
BOUNCING BACK SOON?
Bulllish chart in DRIP, falling wedge pattern forming, possible bullish movement in the next days
Im buying DRIP here as a long trade. It's really a short because its an inverse etf. It looks good the buy was at $6.04
With the OIL cycle coming to an end, 50 + days, I am watching DRIP as a possible counter trade. If the price can get over the 50 and break the trend line this could be a good runner. Maybe we get a repeat of March? You could buy here with a stop below the current price. The only draw back is that the OIL producers may not trade directly with OIL.
Looking at the chart, looks like bullish run already began. Any more negative news On oil sector will help. Remember this is bear fuel traders. As always, set your stops and limits.
I believe for most of us who have traded there have been times when we recognize when we had an urgency to take a trade in a very unclear market when we knew in a conscious or subconscious manner that this was a very uncomfortable trade we were about to make. Even if we have systematic ways to judge risk and reward and trade management, something inside of us is...
buy only above 73.55 target 75.55 target 82.25 BIG TARGET is seen....... SL:70.75
With the standard rebalancing and leveraging of these products, you cannot use the DRIP technicals to find reliable trading points. CL1 is nearly a flat line, while DRIP has deteriorated downward (as it is designed to do). I am willing to sacrifice some of the profits for wishful thinking to break out higher. *I am still long **Stops around 88 and 86 ***Might...
I enjoy trading DRIP and I believe long term, oil is worth less than today. ESG is a movement that will continue, especially when it comes to China and India's eventual and inevitable higher participating in the space. Day trade DRIP, but do not hold. The issue arises from the cost to roll the futures and the cost to leverage the future or ETF into a swap that...
A Symmetric triangle pattern is seen formed on a 3x Leveraged Bear Oil and Gas ETF. Depending of the direction the price crosses breaks the triangle the position should be long or short