As per my analysis, there are three possible options clearly marked on the chart.
If it breaks out of the Pink TL, please wait for confirmation before entering as it might go down to the levels specified on the chart.
Happy trading.. details are for Intra-day traders, and swing traders.
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Trade active
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Good UP movement today, finally it has moved UP as anticipated. SL at BE today.
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Although the prices has gone beyond my low, I have still moved my SL further. As detailed on 29th Dec 2017, that the prices could go to 870 levels, now it can go to 848 levels too.. But it has not negated the structure as yet. I am still in buy and not closed my trade.
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All of my loyal followers are in big ? on MCX status.
Here is my latest update on it :
If you are a long term investor in MCX. Then do not worry, as it has a huge divergence on D, 4H - and it has to go up after a certain fall.
If you see the present structure too.. the fall is a B wave which is always a very complex wave and no one can make any forecast as to where it can stop and when.
However, from here there are two possible options.. one is that it can go down to 790-800 levels also as there is no divergence of 1H, hence one more fall from here cannot be ruled out.
Below are the three possible options from here..
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As far as i am concerned, i am a long term on MCX.. if you see my analysis too, i am on a long haul in this from the width of the Long Green portion. So my trade is still active.. I am not worried and bothered and losing sleep over the MCX fall..
How do you see it now? Please share your views, thanks!
TheChauhansView
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@aamitdel, I have re-analysed it considering today's position and i am still convinced that it is the last down, as informed earlier it can go down to 870 on Dec 29th, 2017. I can still say that it can go further down to 850-860 levels.. but since i am a long term investor on this, my trade is still active.