IT40 trade ideas
FTSE MIB - Italy - cycle wave 3 down under wayThe Italian stock index recently concluded cycle wave 2 counter trend up and it is developing primary wave 1 down. The current upward movement is a counter trend that could be labeled intermediate wave 4 or primary wave 2. The log-term forecast is the same in either cases, after this counter trend up the index should go for a long-term downward path. FOLLOW SKYLINEPRO TO GET UPDATES.
ratio ftsemib / enelhere is the overwelming performance of enel against the italian stock mkt
today enel weights 19,3% of the index
on march 20 reshuffle day enel MUST be capped at 15% as per index rule
so enel will loose some 4% in weight , this means that for every basket long against the future or etf replicating the index 4% of the value will be sold in enel and will be bought in all the other stocks in the index in proportion of their weight.
so long ftsemib and short enel from today untill march 20 reshuffle day.
IT40 in a Bullish ChannelToday the Market is on a bullish bounce. Before starting to sell again we can consider this long entry from the Channel trendline
SELL PUT - BUY PUT INDEX:FTSEMIB is clearly in a multiple years Sideways Market. I'm bearish with all the italians markets.
Only yesterday I've shorted the index on IB . Today I've opened a Sell PUT Option.(looking forward to build some other strategy on this one).
Short Italian FTSEMIBThe next support is at 16% drop.
Two facts making me belive that a short position is the right thing to do.
Italy is in huge difficult to contain the coronavirus. They will lock entire cities and regions in the next week. The economy isn't string at all.
IT40 tomorrow will be 25600A possible retracement will be possible but from tomorrow morning we will go long to 25560
ita40 shortita40 short
when it reach it then close half order and put stop lose on your entry, it will go more down, put to be more secure.
IT40 falls now...Hello guys i found an ascending triangle on IT40 on the daily chart. We can short now.
ITALIAN INDEX: pullback?Note and setup on chart...
ITALIAN VERSION
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FTSE MIB Triangle Breakout!INDEX:FTSEMIB is clearly breaking out a perfect triangle pattern, and this is a confirmation that a long position would be the best opportunity for a long term investment for this year... I think the best would be:
Open a long position
Keeping it up for one year max
Closing the position before (10 days before min) the falling wave that comes after the triangle pattern.
Happy trading to all!
What do you think it'll happen after the triangle breakout? Would you do a totally long position or maybe use some oscillations to maximize profit? What about the leverage? I think that a 2x leverage would be the best and the safest option for this position.
