FRA40 trade ideas
Contrarian CAC40 Long to 5877.5Let the algo play it out.
Let the algos do the o p p o s i t e of what it written
The CAC40 is clinging to algorithmic patterns and targets (bias)My current opinion is that European markets are losing steam. Many highly correlated markets reached multi-month targets. We are very close to a reversal.
The patterns are to be confirmed for a breakout to the downside (current bias)
CAC40 can go up to 10kStock market is still bullish we have breakout still above MA 200 european stock market is under valued we are still lower than 2000 and 2007 but got like at least 40% inflation. we can go up to 8400-10100. don't listen perma bear what we have right now is nothing, be ready for the real bubble..
red line = big bull market invalidation
New Bubble ?The CAC 40 is trading near new high at 5730 after breaking a major resistance at 5650 becoming now a support, the trend is Bullish but the question is how far can we go in this new bubble ?
5800 ? or more or we will come back to 5650 ?
so my strategy is to wait for a close above 5700 to go long to target 5760 -5770
but if we close below I am neutral till the break of 5650
TRY ENTER SHORT AROUNT 5775-80 for 3 tp short timeshort #CAC40 at 5776 if you cant catch it,try tom around 70-80 and sell,the plan its simply to take the correction of a bearish rsi divergence + we are on monthly resistance and a bit overbought so 3 Tp like that each tp you cut 33% of your position
Short France40 Index
I expected today that the French index will go through correction after overextended buy, but seems like, this buying frenzy hasnt stopped .
Which brings me to a good trading idea, to short this double top formation and wait for it to reach its bottom 0.681 fibo retracement after overbought levels.
Open Short FRA40 5756
Tp1 5700
Tp2 5650
Tp3 5600
Tp4 5500
Cac40 - reversalCac40 won’t hit and break highest high, but stayS below resistance and reverse back this week.
Simply price action strategy with obvious trendlines.
Neutral 2 sceanrio The CAC 40 is consolidating after reaching new highs at 5730 coming back under a main resistance at 5650 but the trend is still Bullish , we might continue this correction and trying to test the new support at 5539 if we manage to break the 5600 level so we have 2 scenario here :
1- the CAC 40 will test 5600 and bounce back to 5650
2- the CAC 40 will break 5600 and target 5539
so my strategy is to short now to target at least 5600
