- Market keeps rejecting 10800 level. and sellers seem to be taking control.
- A lot of stocks already into bearish setups.
- Noone can ever predict the price accurately all the time so Im going to keep it simple.
* Bellow 9800 market is a risk off. with a handful of tickers can hold their levels.
* wait for bullish reversal confirmation before entering any trades.
-Remember: the market will be here tomorrow, no need to rush into trades.
- A lot of stocks already into bearish setups.
- Noone can ever predict the price accurately all the time so Im going to keep it simple.
* Bellow 9800 market is a risk off. with a handful of tickers can hold their levels.
* wait for bullish reversal confirmation before entering any trades.
-Remember: the market will be here tomorrow, no need to rush into trades.
Comment:
Staying Cash until a reversal with a confirmation.
Comment:
a possible dead cat bounce toward 10000 level.
if you are uncomfortable with your position u can sell it there.
if you are uncomfortable with your position u can sell it there.
Trade active:
- EGX100 hit its 50MA for the first time on the daily and buyers stepped in.
- Last time it bounced from the 50ma was on October 2023.
- the coming week is critical to determine whether the bull trend will continue or not.
- Huge resistance from 10100-10500.
- To keep it simple, as long as the market manages to breach 10200 level, we have a higher probability of continuation to the upside and the likely scenario will be that bull will climb the wall of worries.
- However, Failing to breakout from the 10000 level and a breakdown of the last Thursday low will lead to a bearish momentum that can drag it down toward 8800 (or lower)
- Manage your risk if the second scenario occurs.
- Last time it bounced from the 50ma was on October 2023.
- the coming week is critical to determine whether the bull trend will continue or not.
- Huge resistance from 10100-10500.
- To keep it simple, as long as the market manages to breach 10200 level, we have a higher probability of continuation to the upside and the likely scenario will be that bull will climb the wall of worries.
- However, Failing to breakout from the 10000 level and a breakdown of the last Thursday low will lead to a bearish momentum that can drag it down toward 8800 (or lower)
- Manage your risk if the second scenario occurs.
Trade active:
Market may rebound from here 8900.
Trade active:
I believe Market hit the buying area today.
there is a probability that this could be "the low"
there is a probability that this could be "the low"
Trade closed: target reached:
Dont go full porting yet. A higher low may be in play later.
Hope that helped.
Hope that helped.