CAC40 trade ideas
ridethepig | CAC40📌 A short update on French Equities that are also full of dramatic events.
The nature of the down cycle came after the infamous leg we played to the topside and began profit taking. How to spot an early discovery of the flows?
The diagram clarifies the relationship between the ending of wave 5 and the beginning of the initial 'A' leg with Covid. This change we played with more weight together in DAX which was pinned at the highs. Here is the brief reminder in DAX:
Since we know we are in-between an ABC corrective leg the little inner flows can be played however we want because we know we are protected from the powerful macro direction.
Targets: 4,200 and 3,600 before anything else is resolved to the topside would be very useful for trading the next cycle up in 2021/2022.
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CAC 40A pennant on the daily chart has developed. Attempted to break during yesterday's session, but came back to close inside the structure. A clear break to the upside will suffice for me pull the trigger, but I might wait for the 200dma (which is on its way) to be cleared first; then my target will be 6,000.
First Drive Hammering done.Second Drive Hammering Is on the Way.the detail is shown on the above Idea.
my First Idea about CAC40
First Hammering is done completely.
Second Hammering is on the way.
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