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8) Long the CAC with a stop-loss order below 4390 then shortAs mentioned before, there is a massive convergence at 4666 (scenario 2). 4600 could be shorted too, but be ready to suffer some losses if the CAC 40 goes to 4666 thereafter. My bet would be that the CAC could run down either today or tomorrow to as low as about 4400. Long @4423 seems to provide a good risk-reward ratio. The afternoon session could become a good scalper's day. I would be very surprised if the CAC 40 goes much lower than 4400
INDEX:CAC40Long
by UnknownUnicorn569872
1
4) Repeat: The European Central Bank created artificial pricesAugust 14, 2016 This is the text from my comments on the charts: January 2015: These levels above 4530-4600 are totally artificial .It was an aberration created by the European Central Bank (Quantitative Easing), which helped the CAC40 hits its long term diagonal resistance before it would collapse. Greece and China were merely excuses. Greek CDS (Credit Default Swaps) clearly showed that Greece had a bond default probability of about 85% in January 2015. Well done ! Can you see that by the end of 2015, the price of the CAC40 went back to its last value of about 4550? It was a lost year. And yes you are not seeing it wrong: that is the infamous Head & Shoulder pattern, as I mentioned many times here and elsewhere. European + US indices will certainly start plummeting in a month or two in my high opinion. The blue lines being shown merely depict one possible path and cannot be taken for granted. You guys can perform an Elliott Waves analysis and see. I do not currently possess enough knowledge/information nor the right skills to tell whether this would work or not. We shall see how it plays out !
INDEX:CAC40Short
by UnknownUnicorn569872
3
Bull Wedge triggered short signalHourly chart strongly broke above 1.1119 resistance and had good follow through on Friday. This breakout followed strong breakout on Thursday. However, this breakout is still within the trading range of last 4 weeks. Weekly bar currently overlap last 4 weekly bars so this could be a test of the top of the range. As majority of breakouts above trading ranges fail so betting on breakout failure is more profitable strategy than betting on breakout success. On hourly chart, there is a wedge (3 push movement) which poked above the wedge at 1.1181 and strongly reversed down. As one reversal was not enough to reverse the strong bull spike so second attempt was very likely. Second attempt also failed by giving doji bar as a weak signal bar. Aggressive traders certainly went short below doji (including myself) but conservative traders waited to see next hourly candle which was strong bear candle. So, bears will be looking to short 1 pip below the hourly candle with STOP LOSS 1 pip above the bear candle. As doji was a signal bar (though weak signal) as well so it is better to place stop 1 pip above doji bar as comparatively more sellers will be lookingto defend that level. In addition to this, top of wedge is testing the resistance level so it seems highly unlikely to break above it without some retracement. In addition to wedge, hourly chart is also in broad bull channel. So it is much more likely to test the lower band of channel next so that make it another reason to take short. When stops are too far away then traders try to scale out to protect their open profit and that push the prices down as well. Bulls have their stops at two possible locations, 1.1103 or 1.1068/1.1074. In addition to this price is far too stretched (look at 20EMA) so price has to consolidate sideways to down before bulls can attempt another breakout above 1.1197. ENTRY: Short 1 pip below Friday closing price (Based on your broker it might be different) Target: 1.1120 but active trade management required as price is expected to find some support at 1.1147-1.1153 area SL: 1 pip above doji bar (second last hourly candle on the chart)
Short
by ktscalpersking
1
Fibonacci retracementIn the Fibonacci retracement level the pair was 50%, it looked like it was not going to get there before the departure of the United Kingdom of the European Union, but this will -to Euro has fallen well. What can we expect from Euro Dollar? A bounce higher, at any time surely a statement of Mario Draghi who can back to Euro in the play will. The next level is 1.1236 upward and downward the 1.0940, you have to keep an eye on the price action this week is a good week to do scalping.
by JeanCarloGarciaQ
GBPUSD BREXIT ANALYSISTRADE WITH CARE THIS WEEK AS FUNDEMENTALS WILL RESULT IN MAJOR VOLATILITY ACROSS THE GBP AND EUR PAIRS!. A FULL ANALYSIS BREAKDOWN WILL BE UPLOADED ONTO MY YOUTUBE CHANNEL BedroomBillions, Follow me on Twitter & Instagram @ Billionsfx , for regular market analysis Following the upcoming brexit referendum gbpusd is likely to see large amounts of volatility, the pair is currently forming a triple top at key daily resistance @ 1.46838 zone, this is also in confluence with 200 ma which has been providing resistance for the pair. The descending trendline has also acted as key resistance for the pair since September 2015 which we have seen many big downside movements off. A break ( and maybe restest if lucky to see one ) will warrant long entries to the upside target highlighted @ 1.52744.
by BillionsFx
1
EURUSD - Outlook until before BREXITWith the USD is about to likely ramp up further against the EUR, and the EUR facing uncertainty of Brexit, it is likely that the pair will see some decline in the next two weeks. We are currently in an uptrend from November 2016 with a very strong trend resistance (black dotted line on chart). With the current economic events approaching and market being where it is at the moment, we should see the pair at around 1.11 right before the FOMC Rate Decision, which will most probably be unchanged, and cause the USD to have a short rally causing the pair to violate its current trend line and head lower. The Brexit will affect Europe and the EUR to a large extend, not only the UK. Any such uncertain economic event tends to affect currencies badly. If the pair really end up violating its trend-line we might see a further decline reaching the 1.08 on the 22nd June right before Brexit. I would suggest and trades done to be small and with appropriate stop losses as we may see high volatlity and strange market moves. Safe and successful trading!
Short
by managingchaoscapital
IBEX 35 | Corrective structure about to endWell... This chart is a difficult one. We have a long term bearish channel and a mid term bullish support (Acting like a corrective structure) We also have in the short term an inversed flag/corrective structure that could end both ways, being broken upside or downside. Anyway as it's an inversed flag it should break downside wich means bullish mid term support must be broken. We could spect a new wave downside if this happens so my decision on this chart is... Short on breakdown and if breaks upwards, short on top of the channel. Regards and happy trading!
FX:ESP35Short
by UnknownUnicorn129775