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Assessments / Blog 2017-09-08 ES #F Sideways indeed As predicted yesterday the ES continuous contract traded sideways. Despite Buying pressure being present price could not exceed the 2469.25 level. At the moment we have Multi time frame alignment to the down side and if weakness develop and we get a bar close below 2456.50, we should see some more selling coming in. Follow through with selling pressure will be needed to push price below the 2445.50 area where some more selling will be attracted. A bar close above 2471 will probably lead to a new high.The $VIX also need to get above 12 and rising foe any substantial down move to occur. Also our Volatility Thermometer at the bottom of the chart shows no Volatility at the moment (grey) and Volatility needs to increase before and substantial move will occur. 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. |