FRA40 trade ideas
CAC40: Speculative target of 5218 then SHORT! (August 22, 2017)Everything is on the chart: check the top of the new channel.
Bear in mind: 5175-5180 are the top of the old channel and important Fibonacci levels. If the gap at 5218 is a breakaway gap setting a true bearish trend, then it might not be filled before probably a long (long) time.
Shorting at 5175-5180 is ok for people fearing to miss the move. if it goes above, then wait for 5218. Invalidated it it closes well above too (but it could be a bull trap).
I originally aimed 5292 but it's an Island Reversal Pattern, so it might be never filled as it set the beginning of the downtrend.
CAC40 : long TP @ 6200Here is my updated view of the CAC in 4H timeframe.
We are currently on a huge support since it matches with the top of 2015.
If it holds and go beyond the wave 1 (@ 5442), we would go straight to 5750 which is a huge resistance and should then expect a deep retracement.
5950 is also in sight but it is not clear for the moment of the importance of it. Maybe a peak to chase the stops ? Will see when we get there...
In anycase the final target is set at 6200 which corresponds with the end of multiple cycles, including the largest one begun in 2012.
CAC40: On a verge of cross roads.
Rebounds 38.2% (May-July fall)
Daily oscillator appears bullish (inverse H&S pattern)
Weekly resistance seems between 5230- 5285
Propels above 5285, will extend the rally further to 61.8% @5320 and 80.0% @5385.
Support finds at 5160, 5100-5080
Sell below 5080 targets at 5000 and 4970.
Short CAC 40 and other indices (long term)I can't believe that the invalidated Gartley pattern actually gave very important and extremely accurate Fibonacci levels on the CAC40. I traced the lines last year, and check out the 261,80%, 361,80% and 423,60% levels ... ! Everything above the 423,60% Fibonacci level from the Macron trade was very probably a fake out (bull trap). It would actually be interesting to see a variation of the Island Reversal here.
I would not be surprised to see the CAC hit again the 423,60% then the 161,80% lines ...
CAC Weekly planning to sellCAC Weekly bearish shark + alternate bat + possibly Bollinger Band reversal pattern
This all coincides within a monthly pin bar on the monthly at a very long term S/R level (+15yrs)
Looking for reasons to sell and watching for a indecision or bearish candle on the weekly to short
CAC40: It did the total opposite of what I was expecting in 2016Invalidation are as strong if not stronger than validation sometimes.
The interesting thing is that the CAC40 reached the top of the channel (or pitchfork) that I drew last summer. Let's see how it goes, when the DAX and the Dow Jones are making new All Time High.
