COMI trade ideas
Why Enter ? COMIWhy did I enter a buy @ 49.13 and why did I put my stop loss @ 47.13
1. On day 19th march the session ended up forming a doji, which is a clear sign that indicates a possible reversal in the trend. The doji forms its own resistance and support areas , which is indicated by its tails. This takes us to the second point,
2. The tail of doji formed a strong support area @47.13, which is the area that brought the price to it real body, this is a clear sign that if it have fallen there again, and broke it then the support was not strong enough to hold the new positive trend.
COMI London CBKDDear Friends,
Correction so far as long as its above 1.592 1.52
even if its going for the Bearish scenario, there is a trade up 1st to Form B >> Expect around 50 - .618% fib
So i am Bullish on Buying for a trade between 1.63 - 1.592 and will watch for the price action there for a confirmation.
On the Chart Fib Channel.
and Price points.
Good luck
Fake BearishTHIS IS NOT A FINANCIAL ADVICE, THIS IS ONLY A PERSONAL OPINION, WOULD LOVE TO HEAR YOURS IN THE COMMENTS
I believe this drop in price is only a correction due to the huge jump from 45 to 47.8. The price broken the trend line and is supposed to have a strong support @ 47.965 and 46.614. The final support before a bearish would be 43.04.
So to conclude i believe that if it continues above 43.04 , this is still a potential bullish sign.
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COMÍ Resistance and Support This is not a financial advice, but only a personal opinion
Since my last prediction and trend analysis was accurate thanks to god first,
I assume since it stabilized over the 50.834 which was the previous resistance, the next resistance will be @ 51.870 and possibly 52.491.
The stronger support is @ 49.382 and @ 47.96
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comi | CIB | egyptCommercial International Bank | Egypt | Technical analysis
A symmetrical triangle is observed on the weekly chart.
Calls for further decline
Note that the pattern is inside the big megaphone pattern !!
The target of the symmetric triangle is 52,000
And the support of megaphone pattern @ 49,000-48,000
