dionvuletich
Short

CAC40 weekly 5 wave structure into resistance

FX:FRA40   CAC 40 index of French listed shares
40 2 0
Looking to sell around 4926-4951
LEONES PRO
2 years ago
We don't agree on this - I'm buying indexes. Where do you think the ECB QE will go?
Reply
dionvuletich LEONES
2 years ago
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
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out