dionvuletich
Short

CAC40 weekly 5 wave structure into resistance

FX:FRA40   CAC 40 Index
40 2 0
Looking to sell around 4926-4951
We don't agree on this - I'm buying indexes. Where do you think the ECB QE will go?
Reply
Well aware of ECB QE, and fundamentally I agree - QE goes to stocks.... as it did in the US
but a cluster zone is a cluster zone... it is what it is - the charts do not lie
If it doesn't show any reversal signs there then I will leave it alone!

If it did retrace it would only be relatively shallow anyway as it is a 5 wave structure so expect a 3 wave correction, my first target would be around 4400 - 4300 so a relatively shallow retracement and would lock in a winner with a trailing stop to see if it will run lower to t2 between 3500- 3600

I do not think you would want to still be short much below point 4, I would be starting to look for longs to potentially run up to the upper trend line
Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out