Weekly canal break We broke a weekly canal started in 2011 !!! and we managed to close just above a support at 4619 when we will break it then ....
short now and try target 4012 this scenario is invalid if close above 5050
CAC40 trade ideas
CAC 40 Index - heading towards 2012 lowEurope Markets entering strong bearish momentum.
France is at the beginning of the COVID-19 Pandemic, number of infected people expect to grow exponentially in the upcoming weeks.
France, Spain, Germany following Italy's state of emergency.
We expect now a lower low of the CAC 40 Index.
At the correction move to 4600, we can start shorting the Index with the price target of 2012's low at 2800.
Europe will enter in recession if serious state economic measures are not taken.
"Two of the EU's biggest states, France and Spain, have followed Italy in announcing emergency restrictions to combat the spread of coronavirus. France, a country of 63.5 million, ordered the closure of all non-essential places used by the public from midnight (23:00 GMT)." 15 March - bbc.com
Let me know your view in the comments down below!
CAC40 could drop by 40-50% moreFigure on the chart speaks for itself, either short sell now with a big stop loss (close to the red lines) or wait till the price reaches the green lines and do a full BUY then ;)
Pay attention to the middle line, the price could react a lot from there (increased volatility).
Good luck!
CAC 40 At Crucial Support CAC40 opened With massive Gapdown trapping all the bulls at higher level
This must have forced the small leveraged Trader to exit Their Position at the lower rates forcing the index downwards.
Index can Face Heavy Selling Pressure from tops
All the trapped brave Traders who didn't exit their position in today's fall will be waiting for their prices on the higher side.
So Sell on rise pattern could be seen in this index
CAC40 Is currently trading Below its 100 EMA at crucial Support Level of previous swing low.
Fresh Sell Off Can be Seen Below The swing low till 5720 Levels which is 200 EMA and 4th Decembers Low.
#CAC40, The big landslide has begun?We are still a long way from getting the double top pattern confirmation but we have an interesting start here, just in case the CAC40 dropped below 5000 points so the trend change will be final.
RSI + Stochastic 2 These indicators indicate more room for declines.
Target: $ 5450
BUY THE DIP LOOOOOL Well, all major Index opened lower with a gap but all managed to stay above the same support line. Are we headed for another buy the dip euphoria ? Central banks can save us all JUST KEEP BUYING !!!
This time is very crucial for markets we gonna make it or break it
To short wait for a close below 5791 on an hourly basis
For the risk takers buy now with tight stop loss at around 5780
Top distribution on the Cac I see a distribution here,
Am short several days ago
Im holding it and adding more to build a good position
I hope market will vive le reason
FR40 (CAC) - Intraday LongWe think the market could bounce from the support trendline, but have also a conservative target. This is aggressive set-up without confirmation.
CAC LongThe French index is now retesting its previous highs and if this support is hold, we could see the continuation of the current rally. Thus, we would like to go long at a bit higher prices and we are targeting the current all-time highs on the index.
Short the next bull attemptIndicator readings:
- Volume is in favour of bear
- RSI Libre short period indicator floating low for considerable period
- Attempts to break resistance is weaker by the day
