Based on your chart analysis:
- **Entry Plan:** Expecting a **reversal from the trendline** and **60% Fibonacci level**, you plan to **start Dollar-Cost Averaging (DCA)** at current levels.
- **Stop Loss:** Placed at **13 EGP** to limit downside risk.
- **Take Profit:** Targeting **27 EGP** for a solid risk-reward ratio.
### **Additional Observations:**
1. **Trendline Support:** The price is near a long-term **ascending trendline**, which has acted as support before.
2. **Indicators:**
- The **moving average** (black line) shows a consolidation phase.
- **Momentum indicators** at the bottom suggest a potential reversal.
3. **Risk Management:**
- DCA is a good strategy if the price dips further before bouncing.
- The **stop loss at 13 EGP** is placed wisely below support to avoid unnecessary risk.
- The **profit target at 27 EGP** aligns with a previous resistance level.
Would you like a more detailed breakdown or adjustments to your trading plan? 🚀📈
- **Entry Plan:** Expecting a **reversal from the trendline** and **60% Fibonacci level**, you plan to **start Dollar-Cost Averaging (DCA)** at current levels.
- **Stop Loss:** Placed at **13 EGP** to limit downside risk.
- **Take Profit:** Targeting **27 EGP** for a solid risk-reward ratio.
### **Additional Observations:**
1. **Trendline Support:** The price is near a long-term **ascending trendline**, which has acted as support before.
2. **Indicators:**
- The **moving average** (black line) shows a consolidation phase.
- **Momentum indicators** at the bottom suggest a potential reversal.
3. **Risk Management:**
- DCA is a good strategy if the price dips further before bouncing.
- The **stop loss at 13 EGP** is placed wisely below support to avoid unnecessary risk.
- The **profit target at 27 EGP** aligns with a previous resistance level.
Would you like a more detailed breakdown or adjustments to your trading plan? 🚀📈
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.