Not confirmed yet. If it is, it would be an opportunity for some shorts/longs inside the triangle and at the end we should see a bearish continuation to find a support around 4600.
Any thoughts on this idea? Let me know!
Do we reteste the breakout of the triangle related to CAC40 ?
A rejection of the 4900 upside would be ultra bullish
If we close monthly above -> would be very interesting
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.
Cac40 has been opening with quite a gap today just like most other indices.
Price has made a lower low on the m5 and I will be trading it down to close the gap.
If price moves down I will add aggressively so I max my profits.
Watch the other indices closely as they are not there yet and a reversal might still be possible.
Trade safely...
*** If you like my ...
Trade Alert
Together with the other indices, the French CAC 40 was also hit by heavy selling, but it managed to find support near the October low of 4896.
But what's interesting here is that the daily chart could be forming a harami candlestick pattern, hence why we recommend to observe today's close and act on it either tomorrow or Friday. The only issue with ...
This is an update of the previous plan on CAC40 if the market conditions holds like what they are at the moment there is still good opportunity to extract nice profit from it.
You can check trade full fundamental and technical analyses in YouTube.
In this video I am sharing my thoughts about the French index CAC40 and what are the trade opportunities there. We were able to extract very good profit from this index before so hopefully with this plan we are going to replicate the results.
You can check trade full fundamental and technical analyses in YouTube.
Important support zone we go long on technical rebound with tight stop because below 5000 we go straight to 4700 - 4500 ! ( Good R/R ; Short Swing ; Monitor closely )
I wait for conditions of building RuChezRu Channel at M30, which will give me target bank/line and objective levels for manual trailing my offsetting stop orders; while @ M5 my RuChezRu is ready and in action and gave me cpear target line/channel_bank.
The CAC 40 is used as a benchmark index for funds investing in the French stock market and also gives a general idea of the direction of the Paris Bourse. The CAC 40 is similar to the Dow Jones Industrial Average in that it is the most commonly used index that represents the overall level and direction of the market in France. At the time of writing (Aug 2005), the CAC 40 included such companies as Renault, Michelin, L'Oreal and Vivendi Universal.
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TVC:CAC40
