๐ Technical Analysis โ Remco for Touristic Villages Construction (EGX)
โฐ Timeframe: 1H
๐ Current Price: ~3.52 EGP
๐ Key Zones
Buy Zone:
๐ฉ 3.52 โ 3.41 EGP
This area is acting as a strong demand zone, historically providing support and initiating bullish reversals.
Price is currently hovering around the top of this zone, suggesting a potential accumulation phase.
Target Zone:
๐ฅ 3.79 โ 3.88 EGP
A significant resistance area, previously acting as a supply zone where sellers entered strongly.
A logical take-profit level for short-term traders.
Stop Loss:
๐ 3.34 EGP
Well-placed below the demand zone to minimize downside risk while avoiding premature stop-outs from minor wicks.
๐ Trend Analysis
Thereโs a visible ascending trendline (in blue) acting as long-term dynamic support.
Price remains above this trendline, indicating a still-intact bullish structure on higher timeframes.
๐ Price Action & Forecast
Price recently bounced off the lower bound of the buy zone and is attempting to form a higher low, showing potential for a bullish reversal.
The blue projected path suggests a consolidation followed by a breakout toward the target zone (3.79โ3.88).
If bullish momentum holds, price may even test the upper boundary of the target zone or slightly beyond.
๐ Risk Management
Risk-to-Reward (R/R): Favorable setup, especially if entering near 3.45โ3.50 with a stop at 3.34 and target near 3.85.
Maintain tight risk controls, especially in volatile sessions.
โ Summary
Element Level
Buy Zone 3.52 โ 3.41
Target Zone 3.79 โ 3.88
Stop Loss 3.34
Trend Short-term bullish bias within consolidation
Strategy Buy near support with SL at 3.34, targeting 3.79โ3.88
โฐ Timeframe: 1H
๐ Current Price: ~3.52 EGP
๐ Key Zones
Buy Zone:
๐ฉ 3.52 โ 3.41 EGP
This area is acting as a strong demand zone, historically providing support and initiating bullish reversals.
Price is currently hovering around the top of this zone, suggesting a potential accumulation phase.
Target Zone:
๐ฅ 3.79 โ 3.88 EGP
A significant resistance area, previously acting as a supply zone where sellers entered strongly.
A logical take-profit level for short-term traders.
Stop Loss:
๐ 3.34 EGP
Well-placed below the demand zone to minimize downside risk while avoiding premature stop-outs from minor wicks.
๐ Trend Analysis
Thereโs a visible ascending trendline (in blue) acting as long-term dynamic support.
Price remains above this trendline, indicating a still-intact bullish structure on higher timeframes.
๐ Price Action & Forecast
Price recently bounced off the lower bound of the buy zone and is attempting to form a higher low, showing potential for a bullish reversal.
The blue projected path suggests a consolidation followed by a breakout toward the target zone (3.79โ3.88).
If bullish momentum holds, price may even test the upper boundary of the target zone or slightly beyond.
๐ Risk Management
Risk-to-Reward (R/R): Favorable setup, especially if entering near 3.45โ3.50 with a stop at 3.34 and target near 3.85.
Maintain tight risk controls, especially in volatile sessions.
โ Summary
Element Level
Buy Zone 3.52 โ 3.41
Target Zone 3.79 โ 3.88
Stop Loss 3.34
Trend Short-term bullish bias within consolidation
Strategy Buy near support with SL at 3.34, targeting 3.79โ3.88
Trade active
Trade closed: target reached
Achived
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.