JOIN OUR MAILING LIST |
Assessments / Blog 2017-09-06 ES #F Pullback and now what? The ES continuous contract made the expected pullback as anticipated yesterday. Follow through and a bar close below 2442 is needed to spark some more selling and end the current bullish trend. If 2429 to the down side is reached, our proprietary pattern (still in progress) shows a target of 2401.75. In this scenario the previous upswing which was the highest since May the 25th, will be a climatic action reversing to the down side. Selling pressure is present at the moment and the magnitude of the price movement (bounce) from the previous low of 2445.50 would be important. If the high at 2471 of the last Smart money down bar is not taken out, we could see further movement to the down side. A bar close above 2475.50 would put the bulls in control again. See results of our Strategy on the MTF Tool trading the EURO RISK DISCLOSURE: 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. |