CurtisHolt

Short term sell - wait for a trend breakout

Short
OANDA:FR40EUR   France 40
As you can see today was a strong trading day for the France 40 . We saw 5 large consecutive green candles which actually broke out above the regression trend. I think at the moment we can sell this market down to that green line within the regression trend which is where you need to be cautious about another increase. One thing that was surprising was that massive break above that Key Resistance level . I think that this reinforces the idea that this market isn't done increasing which is backed up by the now positive ADX indicating that we still have a strong uptrend. You can also see by the trader sentiments that we are starting to see some sellers forming. If you are thinking about buying into this uptrend make sure we fully clear this resistance line and be aware at the fact that we are now at a 10 year high. If we can fully clear this level I don't see why we can't look for that all time high of 6118.5 which is where I would place the very top of the market.

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