For the last 3 months, CAC 40 has been consolidating at the range , 4750 to 5166. With the latest stimulus , I expect the price action to break out of the box soon. I will consider a short term trade once the breakout happens.
These trades remain open from the original sell signals given on Jul 31 23:33:15 (UTC) Sun Aug 2, 2020
IBEX 35 index showing weakness and will probably tank more than 50%.
FRA40 - Intraday - We look to Sell at 5170 (stop at 5220) Buying pressure from 5012 resulted in all the initial daily selloff being recaptured. Due to an Ending Wedge formation, we continue to treat extended gains with caution. Bespoke resistance is located at 5174. The trend of higher highs is located at 5200. The formation has a measured move target of 4681....
FRA40 - Intraday - We look to Sell at 5160 (stop at 5210) Buying pressure from 4940 resulted in all the initial daily selloff being recaptured. Buying posted in Asia. Bespoke resistance is located at 5165. The trend of higher highs is located at 5172. Preferred trade is to sell into rallies. Our profit targets will be 4885 and 4850 Resistance: 5162 / 5165 /...
CAC 40 : Follow the uptrend. Feel free to like❤, comment📝, share👫 and follow me for other analyzes🌍
This has been fun going through the different markets because I see hybrids between various price actions. This market is a little difficult to settle on. I like this bear flag on the local scale. The last couple of days almost makes it look like it wants to go up again to retest that upper channel, but considering how bearish the other markets look, I doubt that...
Slowly but almost surely the Cac 40 will raise again. Until a second wave is acted we have no worries about the fact, the BCE and the FED will give enough strengh to the markets. The job here is to find an entry point, nothing else. Which entry point will be the best ?
SPX500 Daily Range 13:46:08 (UTC) Mon Jun 15, 2020
ca va piquer les yeux lol FR40 sharp down
FRA40 - Intraday - We look to Sell at 5190 (stop at 5230) Bespoke resistance is located at 5206. Selling pressure from 5230 resulted in all the initial daily gains being overturned. Buying posted in Asia. Bespoke support is located at 4896. Levels close to the 50% pullback level of 5141 found sellers. Expect trading to remain mixed and volatile. Preferred trade...
Logic: in confirmed uptrend following steep correction & 2 month sideways consolidation. Entry: €365 or better, (ideally to be bought on a pullback into 200D EMA in the €360-€365 area). Stop: €343 Risk: -6.03% Target: €403 initially (gap close), longer term €426, yearly R1 area. Gain: +10.41% & longer term +16.71% Note: longer term play in the strongest luxury name.