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CAC 40 Index

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FRA40 trade ideas

CAC40: Speculative target of 5218 then SHORT! (August 22, 2017)Everything is on the chart: check the top of the new channel. Bear in mind: 5175-5180 are the top of the old channel and important Fibonacci levels. If the gap at 5218 is a breakaway gap setting a true bearish trend, then it might not be filled before probably a long (long) time. Shorting at 5175-5180 is ok for people fearing to miss the move. if it goes above, then wait for 5218. Invalidated it it closes well above too (but it could be a bull trap). I originally aimed 5292 but it's an Island Reversal Pattern, so it might be never filled as it set the beginning of the downtrend.
TLong
by UnknownUnicorn569872
Short CAC 40 and other indices (long term)I can't believe that the invalidated Gartley pattern actually gave very important and extremely accurate Fibonacci levels on the CAC40. I traced the lines last year, and check out the 261,80%, 361,80% and 423,60% levels ... ! Everything above the 423,60% Fibonacci level from the Macron trade was very probably a fake out (bull trap). It would actually be interesting to see a variation of the Island Reversal here. I would not be surprised to see the CAC hit again the 423,60% then the 161,80% lines ...
IShort
by UnknownUnicorn569872