-strong uptrend since end of December
-price is near long term resistance line and retraced already three times from this line
-price retraced already from upper up channel trend line
-all indicators showing bearish correction incoming
-wait for clear short confirmation before entering this trade
good luck to all and have a nice weekend !
Expect a bit of a pullback at first as RSI and Stochastic are indicating overbought. However, overall macro trends are solid, global growth may be picking up, and in sum you'll probably make some money on this.
My call on CAC40 is changed from long to neutral now that global markets are increasing their fear on a global slowdown. This is evident in markets around the world as Asian markets plunged today as did European. US is set to be down as well. Overall, the channel break is incredibly disheartening for those expecting higher gains as it was a huge move down (3...
Trade Alert
The index is at a critical point once again. Will it break the lower bound of the rising channel, or will it get contained within the boundaries of that channel. We will remain cautious for now and wait to see where the weekly candle will close. If it's outside, then this might clear the path towards much lower areas.
Please see the potential...
Based on a convergence of factors including those in the chart I am selling CAC 40 today.
Expecting this trade to last all day. Might take till tomorrow.
Hi traders,
this is my view on FRA40 the french economy indice.
Here we can see a perfect educational market struktur to show how important it is to know the work
of fibonacci retracement.
Beweent 0.786 & 0.618
Fibonacci retracement is the golden zone to enter for
trendfollowing trades. And what does the price? The price on this indice change the direction at...
Trade Alert
The index is still within a rising channel formation, but CAC40 is currently testing its key support at around 5265 level. A drop below it may invite more sellers into the game and we may see the price sliding lower. This is when we will aim for a possible re-test of the lower bound of the rising channel.
But we will consider this idea ONLY if we see...
The trend of the CAC 40 in recent years is an uptrend.
in October 2011 the Cac has undergone a technical correction of 1200 points and then very quickly he returned to his upward trend, in October 2015 after a long rise the Cac has made technical correction of 1000 points pretty much like the first time and quickly took it back bullish trend, in October 2017 the...
Trade Alert
CAC40 is ver close to key support area at around 5200. In order to examine lower areas in the short run, we would like to see a break below the 5200 before we get comfortable with the downside.
That said, don't forget that the index is still within a rising channel formation, seen on a bigger picture, hence why the potential downside move could be...
