FR40 trade ideas
CAC Buy IdeaCAC Buy Idea @ Monthly Demand Zone (4514.35 - 4301.13)
Buy Limit: 4561.29
Stop Loss: 4217.23
Take Profit: 5356.78
Risk Management = 0.01/$100
Recommended Leverage not to exceed 1:50
Recommended Risk Ratio 1:1.5 – 1:3
Close partially the contract once it reaches 50% of profit, Move stop loss over the entry level
Close partially the contract once it reaches 80% of the profit
Going against the current trend: Long 4580 and 4628 European markets are in another cycle compared to the US. A true pullback is getting more and more possible in a few European markets in spite of what's currentky going on in my opinion. It is possible that January becomes bullish before the bigger picture (potential bearish 2019 trend) takes over. Of course, I could be wrong and the markets could well collapse right away. The breakaway gaps also speak volume.
Potential huge cluster of buyers at 4260 (End of "cycle III")By then, there could be some sharp countertrend rallies. More analyses and price discoveries will have to be made as the tape unrolls.
FR40EUR support on sight!Renko chart shows support, bouncing from it will send the value to the closest resistance with good gains on midterm-longterm.
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It's now or never: Decisions have to be made. 4683 or 4863?We shall see. The market conditions may change a bit after the FOMC from this coming Wednesday.
FRANCE40 INDEX (FRA40Cash) (CAC40) A quick scalp idea:
Price is currently moving in an rising wedge, and we will be looking to place short trades when the RSI indicator becomes relatively overbought. The price had already broken out of a ascending trendline from the monthly timeframe, therefore, short positions are highly feasible on this index.
Weak rally on low volume, I have a short bias (volatility trade)Until invalidation (see other charts). Beware of US markets testing/breaking their support around the FOMC date
Potentially a channel on the CAC40 as wellXmas Rally finally on? Or Shorting the pullback? Let the US decide
Updated target: Short the CAC until 4527I will try to find extra cluster of evidences. However emember that 4630-4688 could perhaps somehow block unless these levels are destroyed with high momentum.
As the markets invalidate my previous scenarios, I see new stuffPotential wedge know, aiming for the gap at 4630.
Elliott Wave Targets (sample 1)This would explain most major moves. Perform similar analysis for your lower targets.
Pay attention to those price patterns (353 points).
It's worse than what I expected. Short on a pullback at 4896I need more confirmation before I know for sure we are entering into my 3rd proprietary cycle. This could lead to a huge downturn to 4200-4250 very quickly.
