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EGX 30 Index

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EGX30 trade ideas

Wave 2 didn’t end yetBased on today's performance, SenkoSpan B serves as a key support level for the EGX30, aligning with the 23.8% Fibonacci retracement. Wave 3 begins when reaching 27,000 Bar, expect couple of bumps. It's disheartening, but hopeful trading can sometimes be a delusion. The DotCom bubble's commemorative date is March 10, coinciding with the devaluation bubble. The EGX30 in USD exposed the EGX30 in EGP's burn rate, influenced by COMI & TMGH. The prices of USD-hedged stocks reflect the 24,000 bar prices. This situation represents a potentially bursting bubble. Regrettably, incidents of friendly fire can occur due to miscommunication, misidentification, or errors during intense and chaotic scenarios.
EGX:EGX30Short
by ICHIMOKUontheNILE
Correction didn’t endBearish sentiment is flying around. There is no logic behind today’s market crash other than Margin Call from brokerage firms. Hopefully tomorrow will be the last correction day . Correction wave(A) might end, Senko Span (A) will slightly decline. This is confirmed by Chikou span. For the next 9 consecutive period, an upward trend is more likely to occur. EGX 30 is still up trending; chikou span is higher than the previous 26 day bar. 27750 mark can be reached, however, the 28500 is more likely to be reached in the first 1H. Tomorrow’s closing price is most likely to be equal to = today’s closing price Less (Thursday closing price - Sunday’s closing price) Can you do the math? Please challenge my idea, and correct me if I am wrong.
EGX:EGX30Short
by ICHIMOKUontheNILE
EGX30 1H time frame:target remains 33750 points.EGX30 1H time frame:target remains 33750 points. You will find R & S on the chart (Red& turquoise lines). Senko Span A is upward; however; in the very near future, EGX will consolidate. Senko Span B is flying upward. EGX30 reached the entry point where it broke out. 30461 point is a main support point. To conclude EGX30 $ represent best value for money. This is witnessed by foreigners net sales. However trading value in EGP 5.5b EGP is equal 110M$. This is poor performance ( equal to 3.4b EGP before the devaluation) New cash injection will drive the EGX30. EGX30 performance for locals is similar to Las Vegas Circus Circus but for foreigners is Walmart, low cost supermarket. New cash will be injected. All stocks are cheap in EGP,and Best Buy in USD. in sha’a Allah tomorrow, Market will rebound.
EGX:EGX30
by ICHIMOKUontheNILE
Target is 33314 pointsEGX30 is trading above green kumo. Chikou span is downward. Red Long wick. Senko Span A is up trending. Senko Span B is plateau. Target is 33314 points. However, hickups are FVG related. You can discover it in the 1H chart. EGX30 1H time frame:target remains 33750 points. You will find R & S on the chart (Red& turquoise lines). Senko Span A is upward; however; in the very near future, EGX will consolidate. Senko Span B is flying upward. EGX30 reached the entry point where it broke out. 30461 point is a main support point. To conclude EGX30 $ represent best value for money. This is witnessed by foreigners net sales. However trading value in EGP 5.5b EGP is equal 110M$. This is poor performance ( equal to 3.4b EGP before the devaluation) New cash injection will drive the EGX30. EGX30 performance for locals is similar to Las Vegas Circus Circus but for foreigners is Walmart, low cost supermarket. New cash will be injected. All stocks are cheap in EGP,and Best Buy in USD. in sha’a Allah tomorrow, Market will rebound.
EGX:EGX30
by ICHIMOKUontheNILE
EGX30 Rally , Buy the Dip !we can know that it's trending up just by looking at HH and HL, we also know that the down wave is just a correction in an up trend so we can predict the end of the correction by several things, especially price behavior, and its behaving as a fractal to the previous corrective wave, in this case, we can be sure that a continuation to the upside is nearby, this market behavior is typical we see it all the time in trending markets, you don't have to be an expert to know that EGX30 is gonna go up and the Egyptian stock market going to start the rally in a matter of days, Enjoy ,,
EGX:EGX30Long
by ShoeIsRich
1