CIB harmonic pattern- Type 2 return correctionExpecting a type 2 return to the levels of 52 to setup for Type 2 target
EGX30
chart show how TMGH is identical with EGX 30 index the idea showing regardless TMGH is financially strong, its stock shall follow the market index
Idea to buy in FWRYA Thought of a buy trade
Support shows a good opportunity to buy
SL/TP based on previous point
Next major move in 2021Next major move for HRHO is long TP1 TP2 TP3 TP4 and SL On chart good luck everyone
-1EGX30@15.2K OPEN SHORT (15.2K-11.0K) PL: +4.2K(+28%)Short position is still open from March 2019.
EGX symbols are pretty interesting to study, the lack of HFT firms is probably the main reason for the perfect alignment with the symbol's fundamental health.
The mega industrial boom generated massive investors interest during the past 4-5 years, followed by the COVID crises, EGX suffered major damage however, our short position was already open at Mar 2019 on an acute divergence of all differential oscillators, targets were set to 11K-9K, however, recent events made things a little bit more interesting.
Price should hover over the 10K mark for a while, we expect another leg down (9K-7K) before any move upwards, hopefully we don't see a new minimum.
It makes me always wonder weather fundamentals draw the charts, or do charts actually predict fundamentals..
Happy Trading!
$EGX30 a threat to break the uptrend$EGX30 a threat to break the uptrend that was created 17 years ago.
EGX30 is the major index of Egypt stock exchange which showed uptrend from 2002
two major technical sign for downside Head and two shoulders
EGX30 - Egyptian Stock Market - weekly chartA negative Elliot wave scenario for EGX30 under 11000 may go down to 7800 as a first target then down to 6000 but above 11000 will cancel this scenario
Sell in May and go away
EGX30 target 7000depending on- monthly trend line for EGX30 and Fibonacci retracement, expected to see EGX30 test 7000 and then bounce.
as now EGX 30 RSI14 oversold while still, the market does not have enough confidence to buy.
+1EGX30:18:12:12@12,757 EGPBesm Elah..
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"In art he, Thoth, was often depicted as a man with the head of an ibis bird"
999ug.
