A Clear H&S in CAG 40A clear pattern trade
We see a clear H&S and French public sector workers also went on strike on Tuesday against President Emmanuel Macron’s plans to cull jobs and toughen pay conditions, forcing airlines to cancel hundreds of flights and disrupting school activities. At this moment the CAG40 is being supported to protect investors, this can't go on. We need to see a price adjustment. Strike notices were lodged in schools, hospitals, airports and government ministries over plans to ax 120,000 jobs, freeze pay and reduce sick leave compensation.
in my opinion, there is a good chance this H&S will be completed in the next 2 days, both Technical and fundamental
Entry: Fib.78.2
Target:
Move stop-loss:
FRA40FT trade ideas
CAC40 – Bullish Minor 5 – Triple Three PatternMinor 4 (light blue) unfolded as a Complex Triple Three WXYXZ (red) Structure, sliding within a Descending Triangle and forming a Flag Formation right above the upper Triangle Trend-Line, as if it would ‘’kiss it good bye” after it filled the gap and causing a Bullish Divergence.
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CAC40 in USD : 100% fibo prolongation touched for the 4th timeThis is the the CAC40 index in USD currency (CAC*EURUSD), as viewed by international investors.
As you can see, since the dip in 2009, this pattern happened 3 times. Each time it broke out the resistance (red), the rally did continue to 100% fibo prolongation. The error was less than 50 points. After that the index felt immediately at least 13%.
Now it could be the fourth time ...
CAC-40 jumps to 12-week high, bias higherEuropean bank stocks cheered the prospect of higher Fed interest rates which should help their profits thereby pulling general indices higher.
Frances CAC-40 index jumped to a 12-week high of 5294, bias higher.
Better-than-expected economic data which included flash Euro-zone PMI prints for September also lent support.
Technical studies support further gains. We see bullish divergence.
The index has shown channel breakout and has breached 100-DMA resistance.
Price action now hovering around 61.8% Fibos at 5293, next bull target 5323 ahead of 5339 and then 5374.
Go long on break above 5293, SL: 5259, TP: 5323/ 5339/ 5374
CAC40 and other European markets: Excellent short opportunity!Top of the channel reached, bad fundamental data everywhere, US markets overshooting because of Trump, Bearish Gartley Pattern + Head and Shoulders pattern on the DAX (see my previous post), and so on.
It's bearish, with a very high probability.