Direxion Daily Energy Bear 2X Shares (ERY)

[Sendme]

I know it's easy to go back and look at the charts and pick out patterns, but it's also nice to know that the patterns work.

I personally like trades that have exact entry, exit and profit targets. I'm sure that there are a lot of other youtube videos out there, but Steven Hart seems to be one of those people that trade based on an exact set of entry, stop loss and exit rules. May not fit everyone's style, but I like to learn from them.

One strategy that I am just now starting to back test is trading the pinbar or long legged Doji candles. (Tombstone or Dragonfly Doji)



Shooting star pattern and targets
https://tradingsim.com/blog/shooting-star/


Looking for support Friday around the 74.10 area

15 minute chart looking for an entry/buy trigger around the 74.10 area. I did finally get a buy trigger, but with the 3 day weekend it may not have been the best choice to buy. (but I did)


It is not good practice to buy into an anticipated pattern, however it is good to know if a potential bearish pattern is on the table where shorters may enter the market and I should take profits. I bought in based on the dragonfly doji and not in anticipation of the bat pattern below.




Final thoughts would be support on ERX around 30.50


Daily chart on the .786 trend continuation pattern


Best of luck