STOXX / H4 : End of bullish waves, retracement should comme soonSinewave and Momentum are both having hard time to trigger signals here because of ECB press conference stimulus that has driven sharp and faster price movements. Anyway 3641 is a key level that I had on my charts for weeks.
We're testing it and as it corresponds to the final wave of a potential expanding triangle structure, that would be a shame not trade it and share this idea with you !
I'm now short for a correction (SO THIS IS COUNTER TREND and I'm of course doing this with 0,5 leverage and a large stoploss set at 2% risk > 1% capital loss in case of invalidation. This means a stop loss set a 3715 which is much more that required and should leave me out of troubles !).
Target 1 is set to 38% retracement.
Target 2 at 50%.
I don't see this corrections going further that 50% as we had a very bullish structure on the impulse.
Anyway no matter how bullish we were, this was still a first bullish wave... and at this stage shorting can only be considered to pay for future long positions stops ;)
YES I'LL BUY EURO EQUITIES AFTER THAT RETRACEMENT ! (just to be clear..)
Hope this idea will inspire some of you ! I'ld appreciate any like/follow if you feel like it deserve it ;)
You can check my indicators via my TradingView's Profile : @PRO_Indicators
EUSTX50 trade ideas
STOXX / H4 : End of bullish waves, retracement should comme soonSinewave and Momentum are both having hard time to trigger signals here because of ECB press conference stimulus that has driven sharp and faster price movements. Anyway 3641 is a key level that I had on my charts for weeks.
We're testing it and as it corresponds to the final wave of a potential expanding triangle structure, that would be a shame not trade it and share this idea with you !
I'm now short for a correction (SO THIS IS COUNTER TREND and I'm of course doing this with 0,5 leverage and a large stoploss set at 2% risk > 1% capital loss in case of invalidation. This means a stop loss set a 3715 which is much more that required and should leave me out of troubles !).
Target 1 is set to 38% retracement.
Target 2 at 50%.
I don't see this corrections going further that 50% as we had a very bullish structure on the impulse.
Anyway no matter how bullish we were, this was still a first bullish wave... and at this stage shorting can only be considered to pay for future long positions stops ;)
YES I'LL BUY EURO EQUITIES AFTER THAT RETRACEMENT ! (just to be clear..)
Hope this idea will inspire some of you ! I'ld appreciate any like/follow if you feel like it deserve it ;)
You can check my indicators via my TradingView's Profile : @PRO_Indicators
Eurostoxx long. This is a perfect trade Review:
After the last analysis from September 7, the Eurostoxx did not fall below 3363 and thus continued its forecasted upward trend. We were right in our expectation that the index didn't touch 3400 anymore. You can read the old forecast here
Forecast:
This develops to a perfect trade. Now we have to prepare for the start of a correction wave in the area around 3640, which will reach minimum 3532. It should find its end 3476 at the latest. After the correction has been completed, we expect another dynamic upward wave in the direction of 3657.
The long-term scenario remains unchanged. We will update the long term picture when the uptrend reaches its peak.
From now just buy dips- The 3 months deterioration period seems to be over. Price broke back above downtrendline, after major bullish trendline acted as good support last week.
- Ichimoku is back to neutral with some bullish bias ahead. Equilibrium level and now bullish support is 3450+. Price is above Kijun, right at spot Kumo top, which could be some short term resistance.
- Heikin-Ashi is bullish, with increasing momentum. Given the haOscillator's relative high value, we may see some consolidation, or minor pull back before next leg up. If it happens, use this dip to go long.
- EWO switched to bullish
Strategy: try to buy dips to 3450-3475, initial stop at 3400
Strong and interesting signal to buy on the index EURO STOXX 50!
On the weekly chart of the European index EURO STOXX 50, which includes the leading "blue chips" for the Eurozone, rested on the ascending channel with a beautiful hammer.
Let's move on to the daily chart. Usually we buy from the middle of the hammer - this is the level of 3480.00, also there is our upcoming weekly channel: Buy Limit 3408.00, SL = 3347.00, TP = 3678.00 .
If you go back to the weekly chart of the index, you can see that the bullish flag is being drawn - a harbinger of further growth. But until we break through its upper limit, we are talking about a potential flag.
Oleg Svirgun
MOY0 Eurostoxx 50 Weekly Head & ShouldersPossible Eurostoxx 50 Weekly Head and Shoulders
Am also interested in the US indices on a weekly basis as I am hoping the SPX500 will close small and bearish this week and possibly the Nasdaq as well, in which case I will be shorting both of them first thing Monday