EGX 100 EWI Index
Short

EGX 100

7
🔹 Trade Setup:
Sell Entry: 33,196.164

Stop Loss: 33,707.466 (above key resistance zone)

Take Profit 1 (T1): 31,693.736

Take Profit 2 (T2): 31,300.428

🔍 Chart Overview:
The index recently made a lower high around the 33,600 area, which aligns with a historical resistance zone.

There is a visible bearish rejection wick at the top, suggesting strong selling pressure near resistance.

The current structure shows signs of forming a bearish reversal pattern, possibly a head-and-shoulders or double top.

📈 Momentum & Price Action:
Price has failed to sustain above the 33,472–33,605 supply zone.

Bearish divergence is likely forming on lower timeframes (not visible on chart but typical in such setups).

The down arrow on the chart points to expected movement toward key support zones.

📊 Strategy & Risk Management:
Risk: ~511 points

Reward to T1: ~1,503 points

Reward to T2: ~1,895 points

Risk/Reward: Strong (Minimum 1:3)

A break below 32,900 may trigger strong bearish continuation toward the first target.

📌 Summary:
✅ Good short opportunity below 33,200 with confirmation.

✅ Targets are well-placed at historical support levels.

❗ Use tight risk management; stop loss above 33,707 is critical.

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