France 40 Ascending Channel - Long PositionFrance 40 Ascending Channel - Long Order
Entry: โฌ5,668.1
TP & RR: โฌ5,760.5 (1.89)
Stop Loss: โฌ5,619.3
REASONS FOR THE TRADE
Again, this is a trade that I would like to take, but will not due to already having enough positions. However, I am sharing this idea for those of you looking for a trade setup, especially if you are trading FR40.
This is a similar ascending channel to a recent trade idea I posted on Oil (from yesterday). I am expecting the price to slide up and then do a move up, at least forming a double top and possibly reaching the upper trendline.
Further, I am seeing a crossover on the Market Flow indicator, so I believe the bulls have enough strength to push the price up.
The Stop Loss is set just below the recent low. Generally speaking, if it breaks down from the lower trendline then I would be looking to close the trade since that invalidates the initial setup.
F40 trade ideas
CAC40 soon time to get out ?The market is up 24% since the beginning of the month without a consolidation, can we keep going up to reach the hights of 2019 before the COVID19 crisis ? do we need a pause to find new buying levels around daily supports 5463-5343 or 5175-5211, do we need to close gaps 5000-5022 or 4730-4705 ?
Can the hope of recovery from the Pfizer annoncement on 9/11 be erased by the consequences of multiple shutdowns and the risk (this is more than a risk but a highprobality) to see many small business close for ever and trigger the fast rise of unemployement in 2021, bringing us to new lows on the stock exchange ?
CAC40 recovery to pre-Covid level displays a short signalEarly 2021 will be looking for a bearish scenario through a 'W' pattern from current valuation.
CAC40 expecting to retrace down to 5150-5300 for Q1-2020 with a sytong resistance at 5185.
Bullish scenario limited to a maximal scored at 5750-5785 given macro perspective and moribund monetary plans amongst EU members as of 31/12/2020.
MACD+ showing a bearish trend since local ATH .
4H Bollinger widens, expecting volatility to increase first days of 2021.
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Short CAC40 for Q1-2020
. Buy BX4 (leverage CAC40 short x2) @2.05 - 2.25โฌ
. TP @2.40-2.60โฌ
. SL starting below 2.00โฌ corresponding to CAC40 above 5750pts
CAC40 | Potential Upward Movement๐ก Trade Idea
๐ Buy Order CAC40 @ 5550.3
๐ฏ Target Profit 5612.7
๐ Stop Loss 5519.2
โ Do not risk more than 1 % of your account on each trade
๐ Good Luck !
Description:
The index is trading within a bullish channel, the price is sitting on a strong support (green highlighted zone). A lower correction might be seen, and then a move upward towards the 5612.7 mark.
ridethepig | CAC Market Commentary 2020.11.25๐ ridethepig | CAC Market Commentary 2020.11.25
The stem for the ending of a retrace and intentions of a turn...
Breaking down ahead of US elections was strategically important.
This was not a typical personality vote, the motives of Democrats are rather exclusively known and transferring the power here will indeed be revolutionary. Neither side can accept the loss, whether we see this end up in the courts or whether we see Biden with the 'hospital pass'... it is irrelevant for the sake of this conversation because in general sense of the term and it is weighing on global equities including DAX, CAC, FTSE, IBEX, FTSEMIB and etc. Eyes on the highs today, a move down from these levels opens up all sorts of problems for buyers.
Thanks as usual for keeping the feedback coming ๐ or ๐
CAC 40 Up Against Major Resistance LevelsCAC40 joined it's a rally today with the rest of the equity markets. The index has managed to climb 10% in just 1 week from its low at the end of October. Nevertheless, the fundamentals look weak for Europe with the 2nd wave still in full swing. Look to short at 4950.00 or below if the resistance level holds.
Watching for Quick RetracePrice in recent sessions in this market has sold off heavily.
As the daily chart shows; price has formed some large bearish candles lower with strong momentum.
Price has also broken through the recent swing low and support area. This recent swing low could now come in as an area of interest.
If price can retrace back higher in the next few sessions we could watch to see if it holds as a new price flip resistance level.
This level could also be a solid level to look for potential short trades.