FRA40 Long Position
Entry: €5,644.6
TP & RR: €5,688.0
Stop Loss: €5,627.3
REASONS FOR THE TRADE
Breaking up from a descending triangle, I expect the price to retrace slightly and then continue the up move. Stop Loss is set below the trendline and the target is at a resistance level. Market Flow indicator show a clear move up.
The trade is slightly in...
France 40 - Short Order
Entry: €5,659.6
TP & RR: €5,569.7 (1.7)
Stop Loss: €5,710.8
REASONS FOR THE TRADE
Typically this isn't a trade I would take as the RR is less than 2 and I consider those unfavorable. However, the price may form a lower high and I want to take advantage of the action if that is the case. The SL is placed just above the previous high....
France 40 Ascending Channel - Long Order
Entry: €5,668.1
TP & RR: €5,760.5 (1.89)
Stop Loss: €5,619.3
REASONS FOR THE TRADE
Again, this is a trade that I would like to take, but will not due to already having enough positions. However, I am sharing this idea for those of you looking for a trade setup, especially if you are trading FR40.
This is a similar...
I expected today that the French index will go through correction after overextended buy, but seems like, this buying frenzy hasnt stopped .
Which brings me to a good trading idea, to short this double top formation and wait for it to reach its bottom 0.681 fibo retracement after overbought levels.
Open Short FRA40 5756
Tp1 5700
Tp2 5650
Tp3 5600
Tp4 5500
Hi there. Price is forming a continuation pattern to the downside. Wait for the price to hit the top of the pattern and watch strong price action for sell.
A quick scalp idea:
Price is currently moving in an rising wedge, and we will be looking to place short trades when the RSI indicator becomes relatively overbought. The price had already broken out of a ascending trendline from the monthly timeframe, therefore, short positions are highly feasible on this index.
