That is a very good question regarding CAC40. The price gives us a bearish signal. As the price is around the resistance level which is also around 61.8% fib lvl of the original drop. Since the trend-line established Dec 2018 broken, we can consider this rising wedge as a correction. But what if it doesn't happen as we planned? The backup plan is also included.
last gap filled ,next step back on dsupport if need an impulsion to go more up or to crash, will depend on us-china headlines
The French CAC40 has struggled to break above the resistance zone into all time new highs. The ECB has promised cutting rates further negative and more stimulus...we shall wait to see the developments, but so far the markets have already priced that in and sold off today after the announcement. The CAC40 on the 4 hour shows 2/3 market trends. We had an uptrend...
*Please support this idea with a LIKE if it helps you. Thanks! More details about me in my signature. CAC40 - Elliott Wave Outlook Bearish Swings - Patterns: Triple Three structure in Cycle Wave IV (green) W (purple) - Zig-Zag X (purple) - Three (false break-out) Y (purple) - Simple Flat X (purple) - Contracting Triangle Z (purple) - Zig-Zag Bullish Swings...
SHS on 1D near to break down. Just did a pull back to upper side of bearish directrix today leaving a 4H bearish candle and way to live it in 1D also. It could break down soon this week. Likely to go down until 0.618 fibo retracement (around 4950). I would set sl at around 5415.
CAC is quite strangely printing on the big 1W/1M time frames a similar trading pattern with the early - mid 90s. The MA50/200 sequence is identical within a Channel Up with two distinct peaks that broke the Channel momentarily before testing again the supporting trend line. What stands out in particular is the +46.50% rebound from the first Higher Low on both...
*Please support this idea with a LIKE if it helps you. Thanks! More details about me in my signature. CAC40 has been labeled within a Sub-Millennium degree wave 4 (blue), which has been unfolding ever since the Dot-Com bubble. Structure - Flat Formation 2000 peaks and down until 2003 bottoms - Grand Super-Cycle wave A (black) 2003 bottoms up until 2007 tops -...
If you like this idea, please support it with a like. Thank you. CAC40 labeled as a bullish impulse in Intermediate (1) (blue), with a deep bearish retracement starting.
Short 5601 ish if rejected. otherwise wait for 5640 ish.
We can look for shorts if that weekly doji candle breaks down. If bears are able to successfully defend this key resistance we could see a move down towards 5100. If not a continuation towards 6150 is likely.
We have a HS and resistance line.
Price action just cant quite get back into that really beautiful channel the CAC40 was running in the past three months. I expect once price action hits resistance that we'll see a bit of a pullback.
While the CAC40 gave traders an almost perfect technical upward channel for January February and most of March, that channel was broken last week only to be somewhat regained over the past few sessions. It still does not know however if that channel support line is now resistance or still support. Moving averages all signal upward momentum while bull bear...
This is such an interesting technical channel that we saw stemming back from December 2018. While, it failed to continue and broke through, it seems like now price action wants to use that former lower section of the channel that was support as resistance. However, this one is not as perfect as the channel that had formed as price action is creeping back into the...