CAC40 Tuesday Long with MA65
Here’s a simple strategy for CAC40 with only three conditions.
Appropriately enough it’s the french national day today.
The three conditions
- Price must be < MA65
- Todays high/low must be higher than yesterday
- Enter the trade on Tuesday open and exit trade on Wednesday close
timeframe(daily, updateonclose)
entrycondition1 = close < average[65](close)
TimeFrame(default)
entrydaytime = dayofweek = 2 and time = 090000
exitdaytime = dayofweek = 3 and time = 173000
entrycondition2 = dlow(0) > dlow(1) or dhigh(0) > dhigh(1)
if entrydaytime and entrycondition1 and entrycondition2 and not onmarket then
buy 1 contract at market
set stop %loss 2
endif
if exitdaytime then
sell at market
endif
Comments
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Yeah that's maybe not of importance. Anyway. Enjoy! :)
Hi JohnScher. Yes I think you refer to the strategy called "Turnaround tuesday". This strategy uses this edge aswell but in a different form. I've found what works on DAX often work on CAC aswell. I guess you could call this strategy "Turnaround Tuesday for CAC"
This is not a Cac40 only strategy. The effect Tuesday morning long until Wednesday evening/night is well known. As an explanation can serve that important monetary policy decisions are made on Wednesday afternoon evening and these decisions are bought up in advance. For the Dax40 I have here for years Andre Stagge as an announcement and replicated as follows, see at Hope it helps
I am not alluding to the turnaround tuesday. The general opinion is that Turnaroundtuesday starts on Monday evening. But better you start on Tuesday morning, which you have recognized well. Ah. Never mind.