ERY (Energy 3x Leveraged Bear ETF) Trade

I mentioned last night ERY popped up on my radar, I felt it needed a little more time, but not much. I'd consider options, but just don't have the time to pay that close attention to an options entry. Second best, a little less leverage/risk with a long ERY position, for me, it's close enough.

 XLE/Energy 4 hour chart looking like it' topping here.

 On a 5 min chart it's losing ground like some other risk assets in the same timeframe, also its rather flat in this area which is where underlying institutional activity is common place.

 Recent acceleration on the negative side has been strong-3 min

As for ERY, the inverse Bear ETF for Energy, the charts today are coming in to the area I was hoping to see.

This isn't a perfectly timed set up in my opinion, but it's fine for me for a 3x long ETF.

I'll be opening a long ERY position now.