Chips No Longer Power Hungry?With news of DeepSeek overnight hitting semi-conductors, is there all of a sudden less need for power? Well if there is then the first place I typically go is ERY. This ETF trades as a Bear 2x leveraged ETF to XLE. This means that for every penny XLE goes down, ERY goes up two pennies... Developing situation here so will watch this one closely!
ERY trade ideas
ERY from $21.80 to $26MODs have suggested that I provide more detail about the picks I make.
Sorry. I'm not as verbose as y'all, and I don't like things to be complicated.
My trading plan is very simple.
I buy or sell at top & bottom of parallel channels.
I confirm when price hits Fibonacci levels.
Bonus if a TTM Squeeze in in play.
I hold until target is reached or end of year, when I can book a loss.
So...
Here's why I'm picking this symbol to do the thing.
Price at bottom of all channels (period 100 52 39 & 26)
Stochastic Momentum Index (SMI) at oversold level
TTM Squeeze is off
TTM Squeeze momentum is down
VBSM is turning negative
Impulse MACD is has dropped tp the downside
Price at near 3.618 ext Fibonacci level
In at $21.80
Target is $26 or channel top
Short Energy sector 🛢️ - Swingtrade, high Risk/Reward trade If you like the idea, do not forget to support with a 👍 like and follow or comment.
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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 indicators. Today will be good opportunity to get in.
------------------------Trade setup ---------------------------
Entry: 34.34
Stop Loss: 32.75
Profit target: 39.76
Time stop: 5 days
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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, showing strength
A recent high offers us a place to put a logical technical stop
As always, respect a tight-stop. If it rips up, let it run and trail stops behind.
US energy sector is deeply OVERSOLDThis 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 shocking at this stage of the cycle.