Stoxx 50 / SX5E - Short Long Term - Up to 1000 Pips OpportunitySX5E seems to not be able to get into a reversal phase yet. If the current support does not hold, we can expect it to fall further below.
However, if the support holds firmly, then the opportunity is lost.
I will keep an eye on it as it does seem to be weak at the moment and open a position at the right time.
Expect to keep it open for at least a week.
Happy trading!
EURO STOXX 50 CFD
EURO STOXX 50. Sell on breakdown. Target 2655This could be a large WXY flat correction.
We are in the last Y wave down.
It could be a hefty gain.
Target at 2655 level is the minimum.
I like European indexes clean charts and ideal touch points as you could see in the EURO Stoxx 50 here.
(Weekly) 1dbl bottom 2shoulders 1head 2necks & 1butterflyTVC:SX5E
The amazing price action...
-Reversal double bottom;
-Major bearish trendline broken, the double bottom "neck" broken, validating the double bottom;
-Found resistance at Bearish Butterfly territory;
-Two targets for the Butterfly, the second @2933$ (618% retracement) will forge the 2618 bullish setup with initial and default targets around 3600$, the 127% extension, eventual ab=cd as 2nd target, a 3th and 4th targets above the 161% extension and 224% extension...
-Ascending structure (at yellow) also with a possibility to "support" the price inside it, forging an eventual 3drives pattern in case of a failed Butterfly... directly testing the highs.
-Bearish RSI and MACD Divergence, but looking left/back on previous price action history on similar divergences, the price just forged small degree corrective structures, resuming major trend later...
That said...
Safe Trades;