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Parallel Channel

MCX Natural Gas – Elliott Wave projectionNatural gas has completed the impulsive cycle at 801 and started collapsing to form the corrective process. In this corrective cycle, the price has accomplished the corrective wave B and started constructing wave C of normal zigzag correction. There are two reversal points for natural gas: 1) Wave C can occur near wave (4) 2) wave C can accomplish its corrective cycle at 219.8 where wave A=C. If the price sustains below the lower band of the channel, traders can expect the following targets: 288 – 275 – 267 . According to Elliott waves, correction can occur near wave (4) of the previous cycle. I already mentioned expected reversal points.
MCX:NATURALGAS1!
by forextidings
1
Can We See A Bearish Trend In ASIANPAINTS?Hello traders, It is a quick update about Asian paints. Security has made a downward channel. After the rectangle breakout, it made another rectangle pattern. The 3033 level is an essential support level to keep an eye on. A breakout will intensify the bearish atmosphere. We can expect a new low based on the price action of the second rectangle pattern If support is breached. Bulls can't enter without a clear breakout of the downward channel. You will be notified when it reaches my level. @Money_Dictators
NSE:ASIANPAINT
by Money_Dictators
Jash Engineering Limited JASH:- The stock is consolidating in a small range since last 6 months, if there is a breakout, there is a possibility of upside move, keep an eye Hello traders, As always, simple and neat charts so everyone can understand and not make it too complicated. rest details mentioned in the chart. will be posting more such ideas like this. Until that, like share and follow :) check my other ideas to get to know about all the successful trades based on price action. Thanks, Ajay. keep learning and keep earning.
NSE:JASHLong
by AjayDhakad_Keep_it_simple
Contra Trade Idea: Jubiliant FoodworksIn all parameters, NSE:JUBLFOOD is in downtrend. However, one contra trade is looking for risk-worthy due to: 1. A (almost) Marubozu candle formation after a prolonged downtrend in daily chart. 2. Accorded by RSI +ve divergence 3. Per Ichimoku strategy: a. Price is crossing the T (Tenkan) line b. K (Kijun) line is becoming flat, means going to attract price towards it. It is placed at 513 c. Chilu Span is showing an uptick Cash: BUY after 500 with SL of 490 for a target of 510/514. Alternatively: BUY 500 Jan-25 Call Option at 7-9 for a target of 15/20, SL: 5. If price moves above 15, one can carry it for 20 with a TSL of 14.50.
NSE:JUBLFOODLong
by pradipandsuvra