Ok, here we see 3 levels of drop with a stop hunt, we see a connecting parallel with one of the gann fan lines, marking a possible reversal, my recommendation here is to go long with the a stop below the previous low, please note: do expect a double bottom, it may pay off to wait and see if it does print and enter when the double bottom high is broken, ie making...
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...
The market is up 24% since the beginning of the month without a consolidation, can we keep going up to reach the hights of 2019 before the COVID19 crisis ? do we need a pause to find new buying levels around daily supports 5463-5343 or 5175-5211, do we need to close gaps 5000-5022 or 4730-4705 ?
Can the hope of recovery from the Pfizer annoncement on 9/11 be...
Early 2021 will be looking for a bearish scenario through a 'W' pattern from current valuation.
CAC40 expecting to retrace down to 5150-5300 for Q1-2020 with a sytong resistance at 5185.
Bullish scenario limited to a maximal scored at 5750-5785 given macro perspective and moribund monetary plans amongst EU members as of 31/12/2020.
MACD+ showing a bearish...
💡 Trade Idea
📈 Buy Order CAC40 @ 5550.3
🎯 Target Profit 5612.7
🛑 Stop Loss 5519.2
❌ Do not risk more than 1 % of your account on each trade
🙂 Good Luck !
Description:
The index is trading within a bullish channel, the price is sitting on a strong support (green highlighted zone). A lower correction might be seen, and then a move upward towards the 5612.7 mark.
Hello Traders,
France 40 looks bullish since it reached a key support level.
I have expected that price increase to 5594 soon.
If you have a good margin, you can enter a long position, as you can see in the chart.
📌 ridethepig | CAC Market Commentary 2020.11.25
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