MCX
MCX Gold - Classic Bullish Triangle (Expect 56191+)Bullish Triangle Running – A Classic Scenario for MCX Gold
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Disclaimer
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All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
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Last Price- 51650 / Time- 21:12 Hrs (9 pm) - 26th Aug 2020
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The description is based on a scientific analysis called wave theory as mentioned below
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Currently Running in Wave-D
Expected Out Come
Wave- D & Wave -E Pending
Wave-D should stop current upside move below Wave-B @ 53965 Highs to be a valid setup
Post-Wave-D is done, we shall expect Wave-E Downside
Once Wave-E is done downside- it should hold above 49955 low which is marked as Wave-A (means- your stops should be below 49955 lows post completing Wave-E)
This forms a penultimate wave- means the second last wave on the upside that means one wave more on the upside is pending which will take Gold to the same level-56191 or above 56191 highs as of 7th Aug 2020
Best visual representation has been marked using Arrows which could be a possible trajectory for the commodity in coming days
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Thanks
Gold - bullish1. Bullish Div in 2HR with the retest
2. Wait for a complete channel breakout
3. low risk (yellow support zone)
4. Enter for a good RR!
Only for study trend : up
Entry : above 3227
SL : 3215
Target: minimum 3263
Only for study .
best of options traders
DON'T MISS THE OPPORTUNITY IN GOLD
TARGET = 50,700
Clear Trendline and soon it will break
Gold Price Will be more DOWN once Covid-19 vaccines comes out fully .
Have a selling mindset in gold even after vaccines comes to INDIA .
Silver MCX falling| Will it fill the Gap? MCX Silver had a steep fall on 11 Aug 2020.
There are two gaps at 57k and 54k .
Fib retracements show them amidst possible entry level.
BUY GOLD----- 15MIN chart 1. Ascending triangle formation
2.wait for breakout & retracement
3.soon fly upside
Natural Gas: Head and shoulder1. Head and shoulder spotted in 2 HR.
2. wait for the breakout
3. enter on the breakout
4. If any divergence exist at the neckline, probability of rejection becomes higher and be cautious and prepare for the rejection trade!
5. IMPORTANT: current month is expiring today and the new month if priced in the current month chart, already above the neckline!
The new month contract's chart:
Nickel: a head and shoulder: breakout or reject?1. IF breakout, trade on the short side using the high of the breakout candle as SL
2. IF the neckline is rejected and there exist a bullish div in 2HR chart, take a long position on the next candle on confirmation of the rejection
Multi Commodity Exchange - Ascending Triangle breakoutNote: This is for educational purpose only.
There seems to be an ascending triangle breakout with good (not high) volume. RSI shows overbought, hence, the price might re-test the resistance turned support line. Can buy on dips till 1400.
SILVER: Head and shoulder trades1. spotted head and shoulder
2. draw your neckline
3. enter on breakout of the neckline
4. incase you missed, re enter on the retest of the neckline
5. draw your target
6. book profits near the target
Synergistic Pattern: Advance (W+Flag) + Triangle + Cup_HandleLevels are mentioned on chart for Swing trading.
Please check the description section for early entry level in given stock to get better Risk to Reward ratio.
Kindly like & share this pattern. Comment with what do you think.
Follow me @ tradingview for more updates!!!
Early entry: 1340
SL: 1275
Target: 1560
RR: 3.15
Thank you. Happy Trading!!!
Best Regards,
Dr. Shamraja Nadar,
PhD in Technology.
Disclaimer
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All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
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Bearish Bat in MCXGOLDXPRZ - 16200-16225
SL 16350
Target 1 - 16050 , Target 2 - 16000, Target 3 - 15935.
Gold: wait for an opportunityThere are two ways this can go!
1. Daily chart breaks the support and falls (after a retest probably)
2. daily chart takes a support from here where 2 HR there should exist a bullish divergence in the MACD histogram and should start going up!
Points to note: Weekly chart has a bearish divergence and daily chart also has a bearish divergence! So probability of this falling (read daily chart arrows) is more!
Natural Gas MCX NG buyers are getting activated and they may push the price as shown in the highlighted areas ,before the pull down to the final leg towards downside completing WXY pattern.
The game of supply and demand : distribution and accumulation
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we can see the structure of distriibution and accumulation.
it's the part of wick off theory.
(i) accumulation shows more demand then supply and more buying presure.. means it shows more buyers or bulls
in market comparing to bulls.
(ii) distribution shows more supply then demand and more selling presure.. means it shows more seller or bears
in market comparing to bulls.
