Get started
PROSHARES TRUST IIPROSHARES TRUST IIPROSHARES TRUST II

PROSHARES TRUST II

No trades
See on Supercharts
Overview Analysis News
Ideas
Technicals

UCO trade ideas

UCO a crude oil ETF LONGUCO popped in April and then dropped into a consolidation in May and June where it set up a base shown by the POC line on the volume profile. Once over the POC on July 6th on the daily chart coinciding with a golden cross on the HMA 56/210 combination the bull trend began. The dual time frame RS lines in the 60s suggest more to come. I am trading UCO and similar oil-based instruments including USOUSD or forex in the near term until I see signals of a topping that are not yet evident.
AMEX:UCOLong
by AwesomeAvani
2
Crude Awakening: Why Oil is Set to Explode Crude Oil has been in Wave 2 since June of last year, which is a corrective wave that typically follows a five-wave impulsive move. During this time, prices have been consolidating in a range, forming a base for the next impulsive move to the upside. Recently, Crude Oil bottomed out during the middle of March, confirming the end of Wave 2 and the start of Wave 3. Wave 3 is usually the most powerful wave in a trend, and it is where prices tend to move impulsively in the direction of the trend. Based on my analysis, I believe that Crude Oil is headed for a strong upward move, with a price target range between HKEX:87 and $105. This is based on a combination of technical analysis and fundamental factors such as supply and demand. The chart suggests that Crude Oil has completed its correction and is now ready to resume its uptrend. In addition, there are several fundamental factors that support higher prices, such as the global economic recovery, the ongoing supply cuts by major oil producers, and the potential for increased demand as economies reopen. All these factors combined suggest that we are in a favorable environment for Crude Oil to head to the upside, and I am confident that this is a good opportunity to invest.
AMEX:UCOLong
by UnknownUnicorn910751
$UCO ready to go higher after retesting broken resistance?Notes: * Strong up trend due to macro situations * Printed a Pocket Pivot as it bounced off of broken resistance * Looks good on multiple time frames Technicals: Sector: Exchange Traded Fund Relative Strength vs. Sector: 3.02 Relative Strength vs. SP500: 4.05 U/D Ratio: 1.62 Base Depth: 56.08% Distance from breakout buy point: 4.42% Volume 37.69% above its 15 day avg. Trade Idea: * You can enter now as the price just bounced off of the broken resistance with higher than average volume * If you're looking for a better entry you look to buy around the $52.20 area * Manage risk accordingly
AMEX:UCOLong
by HaseebKhan_90
Bearhish wedge forming in UCOI see a good shorting opportunity in the future around late Jan to mid Feb. I'm waiting for similar overbought conditions of the indications as circled and a break of the wedge. Other things too look for is a break of supertrend and movement under hull. 200 day moving average (light pink line) should be strong resistance if it can breakout above the orange line. A blow off top is possible which could present a good shorting entry too. One thing to watch out for is a possible retest of the orange line breakout and a move higher.
AMEX:UCOShort
by Lynxys
UCO crude oil etf 12/4 target $21UCO is at the top of it’s 4 month downward trend channel. That’s a good spot for a short entry on a crude oil etf. My 12/24 target is $21. US crude oil inventories rose 4.6 million barrels last week, missing expectations for a draw of 900k barrels. US coronavirus cases hit another new daily high record today with 140,543 reported. Renewable energy is where to be long, not this dirty pollution. Do your own due diligence, your risk is 100% your responsibility. Consider being charitable with some of your profit to help humankind. Good luck and happy trading friends... *3x lucky 7s of trading 101* 7pt Trading compass: Price action, entry/exit Volume average/direction Trend, patterns, momentum Newsworthy current events Revenue & Earnings Debt / Cash Book value, assets 7 Common mistakes: +5% portfolio trades Bad risk management Emotions & Opinions FOMO : bad timing Lack of planning & discipline Forgetting restraint Obdurate repetitive errors 7 Important tools: Trading View app!, Brokerage UI Accurate indicators & settings Wide screen monitor/s Trading log (pencil & graph paper) Big organized desk Reading books Sorted watch-list Checkout my indicators: Fibonacci VIP - volume Fibonacci MA7 - price pi RSI - trend momentum www.tradingview.com
AMEX:UCOShort
by Options360
1
UCO - To the next level?Two months after UCO reached the top of its channel, it had moved down and slowly meandering its way back up again. But what if UCO is slowly ascending to the next level? Its drop on Aug 12 might have been a set up to try to gather enough energy to continue moving upward. However, it won't be without drops and sideways movements in between. The next level to reach is near 36.8 and after it moves above the fray, will it stay? Thats a good question. It seems each time it reaches a certain height it will fall back down, but the level maybe critical if it holds long enough to keep it. Either way, Ill grab profits at that level and buy on the dip! Until then, we got a bit of a wait. We got until the week of the 24th of August to watch out for UCO to finally make the final push up or get crushed!
AMEX:UCOLong
by Harley_Drake
1
UCO Wave 5 $34.85Hello, My Thoughts For You We are on wave 5 now and the common length for wave 5 is equal to wave 1 or 1.618% of wave 4. Looking at the chart I decided to go with the wave 4 measured move because wave 1 equal measurement would bring wave 5 to be 29.56 which would become a truncated 5th wave and I don't see that happening given the upward pressure of the RSI which has plenty of room to move before it reaches overbought conditions on the daily TF. If you're not sure how to get into a trade or when to take profits then check out this tutorial I have created in the comments section under "My Trade Advice For You" Good Luck, Cheers! Be sure to comment, follow, like, and check out my profile for more trade ideas!
AMEX:UCOLong
by keifer
3