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
We don't agree on this - I'm buying indexes. Where do you think the ECB QE will go?
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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
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