CAC 40A pennant on the daily chart has developed. Attempted to break during yesterday's session, but came back to close inside the structure. A clear break to the upside will suffice for me pull the trigger, but I might wait for the 200dma (which is on its way) to be cleared first; then my target will be 6,000.
FRA40 trade ideas
First Drive Hammering done.Second Drive Hammering Is on the Way.the detail is shown on the above Idea.
my First Idea about CAC40
First Hammering is done completely.
Second Hammering is on the way.
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CAC40 - Limited upside within the wedge FRA40 - Intraday - We look to Sell at 5170 (stop at 5220)
Buying pressure from 5012 resulted in all the initial daily selloff being recaptured. Due to an Ending Wedge formation, we continue to treat extended gains with caution. Bespoke resistance is located at 5174. The trend of higher highs is located at 5200. The formation has a measured move target of 4681.
Our profit targets will be 4685 and 4650
Resistance: 5170 / 5200 / 5230
Support: 4947 / 4682 / 4650