It's now or never: Decisions have to be made. 4683 or 4863?We shall see. The market conditions may change a bit after the FOMC from this coming Wednesday.
FRA40 trade ideas
FRANCE40 INDEX (FRA40Cash) (CAC40) A quick scalp idea:
Price is currently moving in an rising wedge, and we will be looking to place short trades when the RSI indicator becomes relatively overbought. The price had already broken out of a ascending trendline from the monthly timeframe, therefore, short positions are highly feasible on this index.
Weak rally on low volume, I have a short bias (volatility trade)Until invalidation (see other charts). Beware of US markets testing/breaking their support around the FOMC date
Potentially a channel on the CAC40 as wellXmas Rally finally on? Or Shorting the pullback? Let the US decide
Updated target: Short the CAC until 4527I will try to find extra cluster of evidences. However emember that 4630-4688 could perhaps somehow block unless these levels are destroyed with high momentum.
As the markets invalidate my previous scenarios, I see new stuffPotential wedge know, aiming for the gap at 4630.
Elliott Wave Targets (sample 1)This would explain most major moves. Perform similar analysis for your lower targets.
Pay attention to those price patterns (353 points).
It's worse than what I expected. Short on a pullback at 4896I need more confirmation before I know for sure we are entering into my 3rd proprietary cycle. This could lead to a huge downturn to 4200-4250 very quickly.
Closing the gap on Cac40Cac40 has been opening with quite a gap today just like most other indices.
Price has made a lower low on the m5 and I will be trading it down to close the gap.
If price moves down I will add aggressively so I max my profits.
Watch the other indices closely as they are not there yet and a reversal might still be possible.
Trade safely...
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CAC40 - Possible descending triangleNot confirmed yet. If it is, it would be an opportunity for some shorts/longs inside the triangle and at the end we should see a bearish continuation to find a support around 4600.
Any thoughts on this idea? Let me know!
