CAC 40 – Role Reversal Setup Continues to Profit Heavy | Oct 7

CAC 40 – Role Reversal Holds Well
Two days ago in our private members commentary, we talked about selling the CAC 40 at the role reversal level at 4333, which held like a charm. We wrote about this in yesterday’s commentary, and this role reversal setup continued to fall much lower as you can see from the 1hr chart below, hitting the first and second targets at 4251 and 4196.

Those members who traded this setup would be in a very nice profit now, so congrats to them.

For now, watch the key support at 4127 for your next directional clues but we remain bearish on corrective pullbacks into resistance.

cac 40

In today’s daily trade setups commentary, we also talk about the EURUSD false break setup that profited from yesterday’s commentary, the GBPUSD potential breakout, the USDCHF and its attempt to base, the USDCAD and key levels to trade, along with the global indices and how they may react to key support levels.

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Buddhist, Trader and Philanthropist

I'm Chris Capre, Founder of 2ndSkiesForex. I help traders of all levels change the way they think, trade and perform. As a professional trader, I specialize in trading price action. As a teacher, my passion lies in showing you how to re-wire your brain for successful trading. Want to improve your edge right now? Visit my Price Action Course page.

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