CAC:
Date: 23 January, 2017
H4 Graph: Medium term long, Short term - short move down
The price made a high with topping pattern at 4,925/4,930 and after 3rd unsuccessful try to break up above 4,925, started moving lower. At the moment the price is at horizontal support and there is a possibility of break below. This is a good place for a shor, after clean break below this horizontal zone. This level is important due to in the past has held and price has risen from here. If there is a break below here it will give us an indication that there might be shift in tendency towards short move. Price remains below the 200 ЕМА.
Price Action: Price open with Gap and if does not come back to close the gap is viewed as a bearish signal - Possible signal for short
Price for Entry short around: 4,810 - only after a clear break below the horizontal support and on the retest
SL:4,865
Trader - S. Fuchedzhiev
Read more:
25 Canada Square, Level 33, office 50, Canary Wharf London, E14 5LQ +44 20 3608 6256
World Financial Markets - 0700 17 600 Varchev Exchange - 0700 115 44
Varchev Finance Ltd is registered in the FCA (FINANCIAL CONDUCT AUTHORITY) with a passport in the United Kingdom: FCA, United Kingdom - registration number: 494 045, which allows provision of financial services in the United Kingdom.
Varchev Finance Ltd strictly comply with the statutes of the European directive MiFID (Markets in Financial Instruments). targeting increased efficiency, transparency and uniformity of financial instruments.
Varchev Finance Ltd is authorized and regulated by the Financial Supervision Commission - Sofia, Bulgaria: License number RG-03-02-05 / 15.03.2006
The information on this site is not intended for distribution or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Disclaimer:
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.