Hello, natural gas futures analysis & mid-term swing trade buy: 414 targets: 485/576 stoploss: 346.
LOGIC BEHIND TRADE: Natural gas futures 1w chart has formed W pattern & given breakout of resistance (targets identified from harmonic abcd/xabcd pattern level 1.414) stoploss is taken low of resistance candle if sustains above al time high can go upto 576. ...
NSE: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,...
Disclaimer:
I am not SEBI registered person and this is not an investment advice and also please note this is only for education purpose. Also note we can use this research for my own portfolios. So don't influence yourself by this research. Please note before investing according to this educational research, please do your own research and also do take advice...
MCX has broken out of its rectangular channel resistance zone of 1900 on the daily chart. The candle formed is a Doji at very high volume. The break out signals are not very clear yet and therefore be wary of buying at the breakout yet. Better to wait for a pullback and buy at continuation.
NSE:MCX
Observations:
1) On Daily time frame it is already trading below 200DMA.
Please refer below chart : daily time frame.
2) On Daily time frame it has taken reversal from it's critical support 1455 level range and also closed above 400DMA. It shows the strength will come in stock to get bullish now.
Please refer below chart : daily time frame. ...
MCX has exhibited strong resistance at 1440 zone multiple times since the beginning of its listing. The stock touched 1850 and returned on 1440 zone once again and took support here. With the idea of support turning resistance, it would make sense to go Long with immediate target of 1850 in sight.
Note: This is for educational purpose only.
There seems to be a bullish reversal from trendline support which coincides with 200 moving average. Moreover, the reversal volume matches with the selling volume which mean demand is more at support. Hence, the current bullish candle engulfs the large bearish candle. There seems to be a RSI breakout as well.
SL: 1445₹
Note: 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.
MCX seems to have completed its consolidation in the lower time frame and is probably heading higher to retest the recent highs, mentioned in the chart. My view is that this is just a short term trade probably a few days and not for investing, yet . Risk/ reward from current levels to target seems to be good.
