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Assessments / Blog 2017-11-15 ES #F Possible Spring Price went down yesterday as suspected and traded to a low of 2564.25 before reversing sharply. The smart money down bar at the last swing low formed a possible Spring that penetrated the previous down swing’s low, before reversing to a high of 2578 in after hour trading. From this high it went down and tested the 2568 area. If no bar close below 2568 and reverse upwards again the Spring will be confirmed and price will probably move higher for today. Volatility and Buying/Selling pressure will be key to the next move. Volatility has eased and if it decreases further with continued buying pressure prices will move higher. If Volatility increase further with no significant Buying pressure, we should see further weakness in the market. We had no bar close below 2563.50 recently and if price stays above this level sideways to higher prices are likely. 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. |