EUSTX50 trade ideas
SHORT EUSTX50 @ 3475 Global markets are turning to bearish due to Trump's tariff twitter. For short, I believe Eurostoxx 50 is a nice object today. A strong bearish bar has broken the structure. Just wait for a step-back opportunity and sell it.
Entry: 3475
Stop: 3516
TP1: 3434 (We can trail it for more profit.)
"Top and Bottom Analysis" EUROSTOXX 50 by ThinkingAnts4H CHART EXPLANATION
- Price is currently on an Ascending Channel and, after bouncing on the bottom of it, theres potential to move towards the top.
- Price is above the previous resistance, trying to mark new max. It is currently in a Bullish Corrective Structure to continue the up move.
- If price breaks 3457, the target prices are determined by Fibonacci Levels (3502 and 3556,8).
Updates coming soon!
MULTI TIMEFRAME VISION:
- Weekly
- Daily
EU50 approaching resistance, potential drop! EU50 is approaching our first resistance at 3272 (50% fibonacci retracement, 100% fibonacci extension, horizontal overlap resistance) and a strong drop might occur pushing price down to our major support at 3128 (38.2% fibonacci retracement).
Stochastic (55, 5, 3) is also approaching resistance and we might see a corresponding drop in price should it react off this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Eurostoxx 50 Daily Wave 5 Cluster Level - Looking to shortLooking to short Eurostoxx based on the higher time frame fibonacci cluster level and the projected wave 5 of 5 completion with RSI overbought at 75 (not RSI's mean much on it's own)
Looking to short around 3400 targeting multiple targets from 3375 down to 3158,
See how we go...
Eurostoxx 50 Weekly Fib Cluster LevelThere is a fibonacci retracement cluster on the weekly chart of the Eurostoxx 50
This ranges from a long term 61.8% up to a 88.6% retracement using the various peaks and the same low point formed last December 2018
There is also a clear 5 wave advance from the lows which has formed a wave 5 of 5 , which also has a fibonacci extension cluster on the daily chart with Overbought RSI indicators
I'm planning to enter orders to sell around 3400 looking for a retracement to at least 3325 with the view it could eventually retrace back to wave 4 of the higher degree which would be around 3150 area
Potentially high reward to risk short trade with a combination of timeframes and indicators suggesting a short term top may be near
I will be entering a pending short order given the time frame and shear number of fibonacci cluster levels
It's all about risk/reward ($FESX weekly)I don't say it is something to short, but it is certainly not a good risk/reward to buy or stay long in Eurostoxx50 at these levels.
Weekly parameters:
- Ichimoku setup is neutral.
- EWO is back to neutral
- Heikin-Ashi candle is still bullish, but haOscillator shows an early warning signal of a possible momentum loss ahead in coming weeks.
- Price reached a very important key resistance around 3310-3320
- Lower support is at Kijun Sen level 3180.
+ fundamentally Europe is close to a recession.
The bull run (or we may also call it a pull back) may take a pause in coming weeks. What is the chance for a dip to/below 3200 is early to say now. Such as it is early to decide what we had to do there should we reach it.
Again, think less about the future, consider more present risk/reward.
Idea: reduce European Equity exposure, maybe buy some put spreads.
SHORT Euro stoxx 50 approaching resistance, potential dropEuro stoxx is approaching our first resistance at 3262.6(horizontal swing high resistance, 61.8% & 50%Fibonacci retracement, 100% Fibonacci extension ) where a strong drop might occur below this level pushing price down to our major support at 3134.7 (38.2% Fibonacci retracement , Horizontal overlap support, 61.8% Fibonacci extension )
Stochastic (55,5,3) is also approaching resistance where we might see a corresponding drop in price.
Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
EU50 approaching resistance, potential drop! EU50 is approaching our first resistance at 3272 (50% fibonacci retracement, 100% fibonacci extension, horizontal overlap resistance) and a strong drop might occur pushing price down to our major support at 3128 (38.2% fibonacci retracement).
Stochastic (55, 5, 3) is also approaching resistance and we might see a corresponding drop in price should it react off this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
SHORT Euro stoxx 50 approaching resistance, potential drop!Euro stoxx is approaching our first resistance at 3262.6(horizontal swing high resistance, 61.8% & 50%Fibonacci retracement, 100% Fibonacci extension ) where a strong drop might occur below this level pushing price down to our major support at 3134.7 (38.2% Fibonacci retracement , Horizontal overlap support, 61.8% Fibonacci extension )
Stochastic (55,5,3) is also approaching resistance where we might see a corresponding drop in price.
Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Euro stoxx 50 approaching resistance, potential drop!Euro stoxx is approaching our first resistance at 3262.6(horizontal swing high resistance, 61.8% & 50%Fibonacci retracement, 100% Fibonacci extension ) where a strong drop might occur below this level pushing price down to our major support at 3134.7 (38.2% Fibonacci retracement , Horizontal overlap support, 61.8% Fibonacci extension )
Stochastic (55,5,3) is also approaching resistance where we might see a corresponding drop in price.
Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
