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.
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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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