Gann Grid Analysis of The United Bank (EGX)**📊 Gann Grid Analysis of The United Bank (EGX) – 1-Hour Timeframe**
This chart showcases a comprehensive Gann analysis using the Gann Grid and key levels. The setup provides a geometric framework to analyze potential support and resistance zones, as well as the overall trend. Let’s break it down.
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### 🔢 **Key Levels Highlighted**
The grid is based on the Gann principles, where price is projected using geometric angles. Here are the major levels and their significance:
- **0° = 13.9 EGP**: The base level, marking the start of the projection. It’s the foundation for all subsequent calculations.
- **45° = 14.495741 EGP**: Acts as an initial resistance zone. If price sustains above this, it often indicates bullish momentum.
- **90° = 15.103982 EGP**: A significant midpoint and a potential target in an upward move.
- **180° = 16.357965 EGP**: A key level where price typically tests before continuing higher or reversing.
- **360° = 19.01593 EGP**: Represents a long-term price projection and a potential upper limit of this move.
The intervals between these levels represent equal divisions of price movement, offering a structured way to identify where price may react.
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### 🟩 **Understanding the Gann Grid**
- **Horizontal Lines (Yellow)**: These correspond to price levels derived from the Gann angles, providing support and resistance zones.
- **Diagonal Lines (White)**: Represent Gann fans, which indicate the speed and direction of the trend. When the price respects a specific diagonal line, it confirms the trend’s strength.
The green vertical lines denote significant time cycles, as per Gann’s theory. These lines are critical moments where price action could see a shift, either continuing the trend or reversing.
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### 🔍 **Current Price Action**
- The price is hovering near **14.340 EGP**, close to the **45° level (14.495741)**. This suggests the price is testing a minor resistance.
- If the price breaks above this level and holds, the next target is the **90° level (15.103982)**.
- Conversely, if the price fails to sustain and moves downward, the next support is the **22.5° level (14.196308)** or potentially the base level at **13.9 EGP**.
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### 🛠️ **How to Use This Analysis**
1. **For Long Positions:**
- Look for a clean break above the **45° level (14.495741)** with strong momentum.
- Targets: **90° (15.103982)**, **135° (15.774223)**, and **180° (16.357965)**.
2. **For Short Positions:**
- A rejection at the **45° level (14.495741)** could signal a move back to **22.5° (14.196308)** or lower.
- Stop-loss: Above **90° (15.103982)** for short trades.
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### 🌟 **Conclusion**
This Gann-based framework offers a unique perspective on price action for The United Bank (EGX). By closely monitoring these levels, traders can better anticipate market movements and make informed decisions. The chart also emphasizes the importance of time cycles and diagonal trendlines, which are essential in Gann analysis.
What are your thoughts on this setup? Let’s discuss in the comments! 🚀
