ERX for bullish 2017ERX breakout is promising a move to 68-70 if the promise of measure move is fulfilled.
ERX trade ideas
ERX (XLE) - Before we broke out (25.08.2016.)ERX (Direxion Daily Energy Bull 3x Shares) and XLE (Energy Select Sector SPDR ETF)
ERX: The Fund seeks daily investment results of 300% of the performance of the Energy Select Sector Index.
ELX :The Fund seeks to provide investors with a low-cost "passive" approach for investing in a portfolio of equity securities of firms as represented by the Energy Select Sector Index.
We are maybe just one or 2 days before the biggest breakout of this year.
When bulls, sideliners, bears, perma bears, perma bulls , TESLA car owners realize that oil is not going down but going up suddenly everybody will want to buy oil related shares. Anything what is related oil.
That will happen when oil breaks above the previous high at 51.55$.
I tell you what you will see in ERX :
GAP. Green candle. GAP. Green marubozu. GAP. Small green candle. No gap. Big green candle....
Maybe today was maybe tomorrow will be the day when you need to get positioned here.
ERX or XLE.
ERX - Buying opportunityOil was rallying yesterday and today. Stocks were in pullback mode. As oil holding its highs and stocks their daily cycle lows I think there is a decent chance that ERX printed the daily cycle low 3 days ago. It broke out of the descending channel tested back and heading to new highs.
I'm writing this before market close so all who not positioned in oil or oil shares yet I think it's the last good opportunity to go for long in this sector.
The risk is low if someone wants to put a stop loss I would put it below the DCL at 24.54.
The target price is between the 300 EMA (36.93) and 2015. November high (40.45).
I will post when the time comes for "ERXIT" :)
ERX - Breakout and a trendline backtestI'm in this vehicle for a ong time.
It seems to me that the pullback is done. We broke out of the channel and have the testback.
If oil rallies on Monday price will soar after the gap open.
Slow Stochastic had just crossed up, RSI left overbought.
It's a long .
If the main indexes (S&P , Nasdaq, Dow) printed their bottom on Friday it will support the rally in ERX also.
ERX is not buying the Saudi trickOil related shares are not buying that SA skipped the deal yesterday.
Maybe somone had to open some long positions at suppressed prices today???
ERX, GASL closed the GAP in one hour...
This is not the start of an oil decline below 30$....
Oil & Gas down: Could take Energy Exploration Companies tooNatural Gas and Crude Oil look like they are taking the lead in turning downward which is going to take ERX (Energy Exploration Companies) down with it. Short below $20
ERX a brekout and a follow throughA breakout and a follow through.
+4,67% today.
In the following days we could test back the breakout at 20.00. especially if oil doesn't break out and prints an inverse head & shoulders...
If oil breaks out we just slice through the gap.
ERX broke out from the raising triangleERX (The fund seeks daily investment results of 300% of the performance of the Energy Select Sector Index .) broke out today.
The fund had its biggest rally today since 11.16.2015. The breakout has a good volume.
ERX had a higher low when oil was printing a lower low on 02.11. So the energy shares were pricing that oil is bottoming soon. Based on this oil will follow the energy shares and will break out also.
Just a short thought: The price of ERX was 140 2 years ago. 700% is not bad in 2 years...
Bullish on OilIt's been going down for a long time and for the first time today we've seen an increase in price with good volume. The upside looks a little better than the downside at this moment.
It needs a courage to catch a falling knife (It can cut you bad)It looks the bottom is not far now, several times traders tried to assume the bottom being hit only to get uglier. Now, seems the time to bet for a bounce and it may pay you off. If you need a real time alert, try us www.2waytrading.com
