FR40 definitely an index to include on your watchlist this year.On the long term view this index has made a bearish rally from the early days of February and made a low mid March, and a rally which looked impulsive, therefore we can conclude that the main trend is down.
According to the Elliot Wave Principle every motive rally has to be corrected to a specific fibonacci level, of which has been happening, price correcting in a form of a channel. It appears that the short term trend up seems to be loosing momentum exactly at the 78.6% fibonacci extension level which draws some attention to investors.
Price might drop significantly in the near future and this might happen faster than the side ways move we have been observing since mid March.
A happy trading to you all.
God Bless You.
FRA40 trade ideas
FRA40 SellShooting star candlestick confirmation (2hr-timeframe) following third 4hr trendline touch. Entry to be made on cross of the steep support trendline.
Idea for this week in CAC40Hey, this is my idea for this week in CAC 40, i have two zone Bullish and Bearish, It will depend on investors' fear of the threat of macroeconomics;
Higher than 5800 i will buy (Waiting for a real signal of course)
Under than 5700 will short !
I will update when i will take the trade !
Good week everyone :p
FRA40 sell biasA third touch on the expanding pattern arrived with a double top variation (i.e. the second leg slightly higher than the first). The ray line indicates the neckline of that pattern. A confirmation to take this sell entry will be a break and retest of that neckline, which validates the pattern. The final price objective will be at the support trendline of the expanding pattern, which is also at the bottom of the move being reversed by the "M" formed. TP1&2 are set as indicated, however one can use any level to set their own tp's, these are merely recommendations.
FRANCE CAC40 Retest The Previous Toplooking for cac40 index to retest pre covid-19 levels before going into new bear market.
France40. Short We look to sell at 5720 the Previous resistance .
The rally is close to an exhausting count in the intraday chart. The expectation is for this swing higher to continue towards the top of the trend channel .To complete correction before sellers return.
Entry 5720
TARGET 5500
SL 5805
...........................................................
Support: 5600
Resistance: 5720
CAC40. Shortprice chart with gaps almost every day is typical for very thinly-traded securities and should be avoided. Prices often gap up or down at market open, but the gap does not last until the market closes. Such temporary intraday gaps should not be considered as having any more significance than normal market volatility.
Tp 5620
Sl 5730
CAC 40 – Index futures near support The index has been in a strong uptrend since past few months however it has experienced some correction since early January, currently it stands at the support of the horizontal support line suggesting buying could be experienced near current levels. On 21st December the index had made a very significant “hammer” formation just below current levels. It would be prudent to say that the CAC-40 could rebound towards 5520 and 5600 if it sustains above 5350.
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Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.
3 Level Drop w/ stop huntOk, here we see 3 levels of drop with a stop hunt, we see a connecting parallel with one of the gann fan lines, marking a possible reversal, my recommendation here is to go long with the a stop below the previous low, please note: do expect a double bottom, it may pay off to wait and see if it does print and enter when the double bottom high is broken, ie making new highs, targets a marked as per TP1 & TP2 in consolidation areas or 'fair price' zones.
GL
France 40 Uptrending Buy OrderFRA40 Long Position
Entry: €5,644.6
TP & RR: €5,688.0
Stop Loss: €5,627.3
REASONS FOR THE TRADE
Breaking up from a descending triangle, I expect the price to retrace slightly and then continue the up move. Stop Loss is set below the trendline and the target is at a resistance level. Market Flow indicator show a clear move up.
The trade is slightly in retrospect as by the time I write the trade idea price started moving up. However, I think you may have a chance to enter again.
France 40 Triangle - Short PositionFrance 40 - Short Order
Entry: €5,659.6
TP & RR: €5,569.7 (1.7)
Stop Loss: €5,710.8
REASONS FOR THE TRADE
Typically this isn't a trade I would take as the RR is less than 2 and I consider those unfavorable. However, the price may form a lower high and I want to take advantage of the action if that is the case. The SL is placed just above the previous high. If that level gets hit, it would be a clear invalidation of the downtrend idea.
