Novice / Beginner intro to Ichimoku Kinko Hyo technique.
for a succesfull trades, kindly note that the following 3 conditions must be present:
1- your entry point is always above green kumo
2- Bullish TK cross occured above the green Kumo
3- Chiko span is above TK
we never trade in the Kumo.
it's not recommended to trade below the Kumo, and even Bullish TK cross...
Weekly chart,
EGX70 index has reached the upper long term resistance line, and has a very over-bought RSI.
I am thinking of 2 scenarios:
1. Some correction (around 4900), flat correction, then rebound to cross resistance up.
2. Deeper correction to support 2, then rebound, then rebound to cross resistance up.
Note: As the Egyptian pound is getting a devaluation,...
Egx70
On The Chart, Sharp Rising Trendline..
Breaking Below it is 1st Start of Bearish signal.
Breaking point will Be Turned as Resistance.
wait for more updates Soon.
Best Regards.
EGX70 witnesses an healthy correction short-term move, and that after creating a new peak that lies at 3764 point. And on last Thursday, the EGX70 closed above the level 3450 point which constitutes the 38.2% of Fibonacci retracement level, then the breaking of that level to downside, will lead to targeting the level 3350 point, which constitutes the 50% of...
EGX 70 move with up from 1645.903 with a quantum may push it soon to reach 2020.246 at Fibo 23 level then can get a slide move to prepare to get out the 2027.246 level targeting the 2196.037 level.
EGX will get soon some new IPO after the pressure of the interest rate hike of the CBE to control inflation.
The monthly core inflation, computed by the CBE, recorded 2.4% in April 2022, down from 3.1% in March 2022, and 0.7% in April 2021.
Accordingly, the annual core inflation increased in April 2022, compared to 10.1% in March 2022.
The current interest...
EGX 70 shows two patterns
(Head and shoulders --- constructed
A wolf wave (orange line) which can give the support to EGX 70 and switch the trend back to uptrend ---- probable rebound
breaking the wolf wave will lead to medium term down trend.
EGX 70 supports as follows:-
1- Moving support red line (in case of rebound from this line Targets will be @ 2480 and 2800 as shown)
2- in case of breaking down the moving support line - another support - the dash red-line @1930 (Targets will be previous top then double bottom target)
Dr. Tarek Gadallah
See The Important Levels on The Chart!
Place Your orders at Pivots!
support and resistance lines..
horizontal lines are Support/Resistance .
Vertical lines are time pivots .
Appreciate your Comments.
GL
The area from 1800 to 2000 point @ EGX70 is a rigid support area
from technical analysis point of view , it is a high probable rebound area
Dr. Tarek Gadallah
EGX70 rebounded in the last session
Most probably 2290 is a short term bottom
A sideway move is expected in the next few sessions between 2290 and 2805
Dr. Tarek Gadallah
Support @ the rebound point 2290
Resistance @ 2805
The movement next week could be side movement between support @ resistance
Re-test 2290 again and rebound confirm market bottom
Breaking 2290 means that, the correction didn't complete.
On the other hand , breaking 2805 within few weeks can change the trend to up-trend.
Dr. Tarek Gadallah
