JOIN OUR MAILING LIST
Assessments / Blog
ES #F Selling pressure
The ES continuous contract made a pullback to 2402.75 and came within one tick of the top of the resistance zone at 2402.50 identified yesterday. The lowest point up move (9 points) the lowest since December the 9th 2016 and the Negative delta (aggressive selling) in this low up move, should have been the clue for the down move that followed, since the previous swing high. A safe short could have been established when the bottom trading zone at 2408 was broken and the down move lasted 5.25 points from here. The current up move in progress show also Aggressive selling so far, with Volume Flow to the down side and Selling pressure. The 3 day VWAP is at 2410 and when broken and Selling continues a short can be taken with targets at 2407.50 and 2404.50. If there is continued follow through from here the 2396 to 2388 area can be tested. Watch out for bar closes above 2416.50, which can end the current selling pressure and should lead to continuation of the longer term up move.
The information delivered here is for educational purposes only and is not intended to be a recommendation to purchase or sell any of the stocks, futures or other securities referenced. All references are for illustrative purposes only and are not considered endorsed or recommended for purchase or sale by MC Trading.
Trading Forex, Stocks and Options, Futures and any Commodity or ETF contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing ones financial security or life style. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results and no representation is being made that any account will or is likely to achieve profits or losses similar to those shown. MCTrading has taken reasonable measures to ensure the accuracy of the information contained herein and on this website, however MCTrading does not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or from an inability to access such information or any delay in or failure of the transmission or receipt of any instruction or notification in connection therewith.
|Back||Back to top|