Comments on: Crude Oil & Energy Sector Poised for a Correction https://rightsideofthechart.com/crude-oil-energy-sector-poised-correction/ Stock Trading, Investing & Market Analysis Mon, 20 Aug 2018 18:20:12 +0000 hourly 1 https://wordpress.org/?v=6.9.4 By: GetItRiight https://rightsideofthechart.com/crude-oil-energy-sector-poised-correction/#comment-3830 Mon, 02 Oct 2017 14:28:57 +0000 https://rightsideofthechart.com/?p=184040#comment-3830 In reply to rsotc.

Amazing. Both crude and natgas down heavily, XOP is barely down. It was pushed up from support at 33.3 more than 1%. I fully expect it to go positive, such is my skepticism on a fully viable shorting setup.

]]> By: rsotc https://rightsideofthechart.com/crude-oil-energy-sector-poised-correction/#comment-3828 Sat, 30 Sep 2017 03:15:53 +0000 https://rightsideofthechart.com/?p=184040#comment-3828 In reply to Shambo.

Agreed 100%, thanks. I shorted XOP yesterday & XLE looks just as good, if not better. A very well-defined & steep TL can be drawn off the Aug 30th candle with XLE kissing the TL today but not yet breaking it. PPO is starting to roll over from a very high level as is the RSI (all on the daily chart). Thanks again. Wasn’t on it earlier as I was only looking for a quick, relatively shallow pullback trade but starting to think a swing trade setup might be in the works here. Might add that as an official trade early next week, thx again.

]]> By: Shambo https://rightsideofthechart.com/crude-oil-energy-sector-poised-correction/#comment-3826 Sat, 30 Sep 2017 01:13:23 +0000 https://rightsideofthechart.com/?p=184040#comment-3826 Thursday was a black candle on ERX — opened higher than the day before but closed lower than it opened. After the run-up since August, that’s worth a shot as a reversal candle. And if price goes above Thursday’s close, then its not a reversal candle and there is no rationale for the trade, so its a tight stop.

]]> By: tradelikeamerchant https://rightsideofthechart.com/crude-oil-energy-sector-poised-correction/#comment-3825 Fri, 29 Sep 2017 21:17:59 +0000 https://rightsideofthechart.com/?p=184040#comment-3825 I went long ERY in a marketwatch.com game. Using that game as a testing ground.
Thanks for sharing your stop, that’s a great risk/reward!

]]> By: Shambo https://rightsideofthechart.com/crude-oil-energy-sector-poised-correction/#comment-3824 Fri, 29 Sep 2017 20:27:09 +0000 https://rightsideofthechart.com/?p=184040#comment-3824 I shorted ERX with a stop above yesterday’s high.

]]> By: GetItRiight https://rightsideofthechart.com/crude-oil-energy-sector-poised-correction/#comment-3814 Thu, 28 Sep 2017 15:21:38 +0000 https://rightsideofthechart.com/?p=184040#comment-3814 In reply to GetItRiight.

Changed my mind, bought DRIP at 16.7, which is XOP 34.3.

]]> By: rsotc https://rightsideofthechart.com/crude-oil-energy-sector-poised-correction/#comment-3813 Thu, 28 Sep 2017 15:18:12 +0000 https://rightsideofthechart.com/?p=184040#comment-3813 In reply to GetItRiight.

No but I sold the shares I had taken in a long-term account when the swing trade was added in pre-market today (I had raised stops when it hit T2) & with crude just taking a dive as I type & XOP not reflecting that yet, I might short it now for a quick pullback trade. However, I don’t plan to add it as an official short trade.

]]> By: GetItRiight https://rightsideofthechart.com/crude-oil-energy-sector-poised-correction/#comment-3811 Thu, 28 Sep 2017 14:58:09 +0000 https://rightsideofthechart.com/?p=184040#comment-3811 Randy, did you short XOP? I will probably wait for it to hit the 200 DMA, just up ahead at 35.2.

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