F40 trade ideas
Cac 40Slowly but almost surely the Cac 40 will raise again.
Until a second wave is acted we have no worries about the fact, the BCE and the FED will give enough strengh to the markets.
The job here is to find an entry point, nothing else.
Which entry point will be the best ?
CAC 40 index -short /sellbased on the price movement, the price shows a trend continuation upward, so based on my analysis go long according to the chart I published.
CAC40 - Looking for a Gartley to produce FRA40 - Intraday - We look to Sell at 5190 (stop at 5230)
Bespoke resistance is located at 5206. Selling pressure from 5230 resulted in all the initial daily gains being overturned. Buying posted in Asia. Bespoke support is located at 4896. Levels close to the 50% pullback level of 5141 found sellers. Expect trading to remain mixed and volatile. Preferred trade is to sell into rallies.
Our profit targets will be 4997 and 4980
Resistance: 5141 / 5192 / 5230
Support: 5080 / 5052 / 4995
CAC40 (FCHI - Paris) - Updated EW countCAC40 (FCHI - Paris) has completed 3rd subwave of C (or may be impulse). 4th subwave down is now moving down, which may be sharp. Let’s see how charts unfold.
CAC 40 (FRA40) could hit 5140 in wave YThe French index started second leg of double three WXY correction with wave Y, which could hit 5140.
This level represents the equal distance of Y=W and also the 61.8% Fib (5166).
CAC40 - time for a pause or just getting started?Seeing a similar pattern in most European equities. Getting close to a correction or is calling a (interim) top a fools errand and the bullish red count the way to go?
That would be all, short French index by level and RSIThat would be all, short French index by level and RSI
Rising is limitedThere is a three waves correction which has been working from the middle of March. It is a mature flow. It can reach the upper line of the rising corrective channel but it does NOT have to. I can imagine that the France stock index reaches the half correction level(4877) and after turning down.
So the correction in the fourth wave is mature and the upside momentum is getting weaker and weaker.
I am waiting for the reversal and the lower line of the channel could be a support for a while but after the real break the CAC should trade below new lows.
CAC40 (FCHI - France) - ABC wave patternCAC40 (FCHI - France) is in ABC zigzag wave pattern and going up in 4th wave correction of C wave, which might end soon and go for 5th up wave. B wave was complex. In weekly time frame It has completed (A)(B)© flat wave from high made in 2018. The high made in 2020 was irregular (B) wave. Now currently price moving in new cycle up side from last bottom.
CAC$) - Faces the 161.8% barrierFRA40 - Intraday - We look to Sell at 4793 (stop at 4840)
Majority of the initial daily gains being overturned. Bespoke resistance is located at 4725. The rally has posted an exhaustion count on the intraday chart. The 161.8% Fibonacci extension is located at 4793 from 4193 to 4564. Preferred trade is to sell into rallies.
Our profit targets will be 4564 and 4400
Resistance: 4793 / 4800 / 5163
Support: 4564 / 4400 / 4193
FRA40 SHORTA short position is being considered on this pair based on 4 criteria.The RSI is above 70 indicating overbought conditions.Secondly,the price is at a resistance zone.Thirdly, the price is showing weakness at the upper bollinger band.Lastly we are waiting for an inverted hammer before executing the trade.
