EGX100 RISK OFF?

Mar 13

- 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.

Mar 13

Note

Staying Cash until a reversal with a confirmation.

Mar 14

Note

a possible dead cat bounce toward 10000 level.
if you are uncomfortable with your position u can sell it there.

Mar 15

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.

Mar 19

Trade active

Market may rebound from here 8900.

Mar 19

Trade active

I believe Market hit the buying area today.
there is a probability that this could be "the low"

Mar 19

Trade closed: target reached

Dont go full porting yet. A higher low may be in play later.

Hope that helped.