#mcx #multicommodityexchange Support

Feb 15, 2022

MCX
📌 To Trade on This Chart, You Should Have Reversal Trading Knowledge. As Harmonic is One Of The Best Reversal Trading Strategy, But Always Remember That Harmonic Patterns Also Can Fail (there is no holly grail In Stock Market). That's Why One Should Must Have Knowledge Of Reversal Trading To Trade On Harmonic Patterns.
📌 That Dash Line Is Called PRZ, From That Dash Line To that Horizontal Simple Line Area Is Whole PRZ(Price Reversal Zone).
📌 As One can see, This Pattern has Been Made on Monthly Time Frame, that's why stop loss quite big as per this pattern and time frame. So wait for perfect reversal first then only go for long and ones enter in trade then strictly follow stop loss and here as per my own experience one should keep Stop Loss as closing basis.

(PRZ :- Potential Reversal Zone, SL :- Stop Loss, TF :- Time Frame)

PRZ 1 :- 1377.90
PRZ 2 :- 1364.10
SL :- 1270 (Closing Basis)

Target 1:- 1435
Target 2:- 1475
Target 3:- 1515 and more Trailing basis

Note:- As Per this harmonic pattern , stop loss is quite big, so Trade on reversal only if you don’t know what is reversal, Kindly note that and ask in live session so next time you could be able to identify reversal by your self. Even ask doubts in comments, below.

******whatever charts or levels sharing here or on any other platforms are just for educational purpose only, Not A Recommendation To Buy Or Sell. Please do your own analysis before taking any trade on them. We are not SEBI registered.