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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 is there clearly represent by divergence on Momentum and CCI...
As 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, showing strength
A recent high offers us a place to put a logical...
This is a chart of the triple-leveraged SHORT energy ETF. The indicator at the bottom shows the departure of price from SMA 50 (classic OB/OS detector), and short ETFs tend to make peaks and troughs easier to follow.
Barring a mini-crash similar to that of 2011, the damage should soon stop. That said, another mini-crash or even full-on bear market would not be...