vlad.adrian

EGYPT - Class A bearish divergence

Short
AMEX:EGPT   VanEck Egypt Index ETF
4
I discovered Egypt when I saw a fellow TradingView user posted a chart and loved it. It just trends and trends, and the signals are fantastic, really good market to trade. Unfortunately, it is not available at my broker, which makes this a paper trade.

The proper time to have shorted was 2 weeks ago, when the bearish divergence was confirmed by the impulse system, but didn't look at the weekly chart at that time. Anyway, this market should go down directly for the next few weeks, without strong rallies, so a stop above the current week should do it, as the impulse system is red already. Class A bearish divergence on both the MACD lines and histogram. Due to low liquidity, the Force Index and Weis Wave are useless. Horizontal lines represent targets, except the one at 36$ of course.
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