Short signal possible, #CAC 40 Index Serious resistance In 5642, 3 serious attempts failed.
Stochastic Overbought.
Despite the rise of the Cac40, there are some signs (written above) of possible price correction.
Target: 5470
CAC 40 CFD
CAC40That is a very good question regarding CAC40. The price gives us a bearish signal. As the price is around the resistance level which is also around 61.8% fib lvl of the original drop. Since the trend-line established Dec 2018 broken, we can consider this rising wedge as a correction. But what if it doesn't happen as we planned? The backup plan is also included.
short 5501 and tp 5440 as last gap is filledlast gap filled ,next step back on dsupport if need an impulsion to go more up or to crash, will depend on us-china headlines
CAC40 Fails to make New All Time HighsThe French CAC40 has struggled to break above the resistance zone into all time new highs. The ECB has promised cutting rates further negative and more stimulus...we shall wait to see the developments, but so far the markets have already priced that in and sold off today after the announcement.
The CAC40 on the 4 hour shows 2/3 market trends. We had an uptrend with well defined higher lows and higher highs, and now we are ranging. On the current candle, we had a fake out with the wick above, and the bears are stepping in.
Await for a break of the 5535 zone before entering a short. See how strong the candle break is and we can assess the trade when that happens.
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CAC40 - Elliott Wave Outlook
Bearish Swings - Patterns:
Triple Three structure in Cycle Wave IV (green)
W (purple) - Zig-Zag
X (purple) - Three (false break-out)
Y (purple) - Simple Flat
X (purple) - Contracting Triangle
Z (purple) - Zig-Zag
Bullish Swings - Patterns:
Impulse in Intermediate (1) (blue)
Extension in Minor 3 (green)
Next expected swing:
Bearish sequence in Intermediate (2) (blue)
Structure change:
Bullish continuation in an impulsive manner could lead towards more up-side for an Ending Diagonal.
SHS CAC40 4H/1DSHS on 1D near to break down. Just did a pull back to upper side of bearish directrix today leaving a 4H bearish candle and way to live it in 1D also. It could break down soon this week.
Likely to go down until 0.618 fibo retracement (around 4950). I would set sl at around 5415.
CAC 40: Very strong long term upside potential. 6700 on sight.CAC is quite strangely printing on the big 1W/1M time frames a similar trading pattern with the early - mid 90s. The MA50/200 sequence is identical within a Channel Up with two distinct peaks that broke the Channel momentarily before testing again the supporting trend line.
What stands out in particular is the +46.50% rebound from the first Higher Low on both cycles. What follows after is a giant Inverse Head and Shoulders pattern, which gave rise to the second peak outside the Channel Up.
CAC40 is currently on that Inverse Head and Shoulder pattern attempting to price the Right Shoulder.
With such striking similarities it is only natural to assume that the current cycle will follow to a large extent the 90's cycle. Which means that after the Inverse Head and Shoulders is completed a +49.50% rise may follow (second peak outside the Channel) bringing the index close to 6,700. This is our long term target for CAC and the candle action times this by March 2020. After that the final Higher Low takes place which should pave the way for the new hyper aggressive cyclical bull market similar to the late 90s - 2000.
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CAC40 - Market Crash Cycles | Indices | Macro Trends*Please support this idea with a LIKE if it helps you. Thanks!
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CAC40 has been labeled within a Sub-Millennium degree wave 4 (blue), which has been unfolding ever since the Dot-Com bubble.
Structure - Flat Formation
2000 peaks and down until 2003 bottoms - Grand Super-Cycle wave A (black)
2003 bottoms up until 2007 tops - Super-Cycle wave (a) (purple)
2007 tops and down until 2009 lows - Super-Cycle wave (b) (purple)
2009 lows and up until present times - Super-Cycle wave (C) (purple)
Super-Cycle (C) (purple)
Pattern - Ending Diagonal
Sequence - 5 Wave Sequence, with Cycle Waves I II III IV V (green) decomposed as Primary ABC (turquoise)
Current Position
Cycle Wave V (green)
Next expected swing
Bearish sequence in Primary B (turquoise)
Market Crash Forecast
Support granted at or around the 5300.00 mark and then a bull run towards the 6300.00 levels, where the Grand Super-Cycle Wave B (black) is expected to complete.Grand Super-Cycle Wave C (black) would reflect the next Larger Degree Recession.Structure change.
Breach of the lower trend-line of the Ending Diagonal could reflect the fact that the Market Crash already started.
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CAC40 labeled as a bullish impulse in Intermediate (1) (blue), with a deep bearish retracement starting.
CAC40 Major resistance (Weekly chart)We can look for shorts if that weekly doji candle breaks down. If bears are able to successfully defend this key resistance we could see a move down towards 5100. If not a continuation towards 6150 is likely.
Once Resistance Hit, Potential Pullback SufferedPrice action just cant quite get back into that really beautiful channel the CAC40 was running in the past three months. I expect once price action hits resistance that we'll see a bit of a pullback.
CAC40 Rejoins Channel, Technicals Flash OverboughtWhile the CAC40 gave traders an almost perfect technical upward channel for January February and most of March, that channel was broken last week only to be somewhat regained over the past few sessions. It still does not know however if that channel support line is now resistance or still support. Moving averages all signal upward momentum while bull bear sentiment and RSI flash that this index is overbought. I'm not confident in equities right now. They all seem overbought and tend to be universally stagnant. Let's see how much further we can go though.
Former Support Channel as Resistance?This is such an interesting technical channel that we saw stemming back from December 2018. While, it failed to continue and broke through, it seems like now price action wants to use that former lower section of the channel that was support as resistance. However, this one is not as perfect as the channel that had formed as price action is creeping back into the channel. Either way, this one is still a fun one to watch considering how technically perfect it was acting for quite a while.
Textbook Channel ContinuesExpect a bit of a pullback at first as RSI and Stochastic are indicating overbought. However, overall macro trends are solid, global growth may be picking up, and in sum you'll probably make some money on this.
Channel broken a bit early, but could indicate bear marketMy call on CAC40 is changed from long to neutral now that global markets are increasing their fear on a global slowdown. This is evident in markets around the world as Asian markets plunged today as did European. US is set to be down as well. Overall, the channel break is incredibly disheartening for those expecting higher gains as it was a huge move down (3 percent). If you were not in this trade closer to the bottom, you may have missed your chance. If you didn't sell before this dip then you may have made some money. For those shorter-term traders, you may have already missed the train. We could get back in this channel tomorrow, but that seems unlikely. I'm actually more neutral to short than neutral, but Trading View only gives us three options so I prefer not a drastic shift from long to short. Let's see what happens over the next few days.
I'll #BUY #European #Indices Monday
For half a #week
#Breakeven &/or
#LongTerm #LONG
(to be continued: )
#StopManagement and #Exit after Monday's Entry
#European #Indices
CAC40 losing steam shorting LF small dipBased on a convergence of factors including those in the chart I am selling CAC 40 today.
Expecting this trade to last all day. Might take till tomorrow.
