MCX Short Idea MCX gave a retest of Neckline and got Strong rejection with Supporting volumes.
Can be Weak below 1550 Levels
MCX trade ideas
MCX Nice setup of a bear trendOm Namah Shivay.
MCX has been showing a nice setup.
There are multiple confirmations of a change.
1. The beautiful Head and Shoulder pattern
If breaks the neckline below, brings the price much
lower.
2. Also the counting with EW, brings a possible movement.
It can be a smaller flat structure where price does not
move below C, but that is an alternate option.
3. The divergence on a 1 hour price chart, brings a region
of potential watch.
This is only for education purpose. No trading suggestions are provided.
Om Namah Shivay
MCXMulti Commodity Exchange. It is an online platform wherein commodities like gold, silver, lead, copper, zinc, crude oil, etc. are traded.
It is in a support zone......if it act as a support can see a nyz up movemnt.
so mcx traders keep watching it...
MCX looking good on charts Hello Traders !
I am expecting good upside move in MCX from the mentioned level if sustain .
DISCLAIMER
( Educational Purpose )
All investments involve risk.
Please Do your analysis before initiating Any trade
Good luck !
MCX, CONFLUENCE OF INV HEAD & SHOULDER, FIBO & RESISTANCE AREAMCX has following multiple factors which might push this stock up if this breaches 1751
1. Fibo 78.6% breakout
2. Long term resistance area around 1745-1750
3. Inv Head & Shoulder formation.
If stays above 1750-55 tomorrow, then can move to 1800 & 1820 zone.
Watch my other charts to understand simple price action used for all of the analysis. Keep your charts simple and free from lagging indicators. If you check all previous charts, you will understand how beautiful price action trading is and how one can become independent trader by following some simple rules.
Reach out if you wish to learn powerful technical analysis based on simple price action.
Thanks
Piyush Gupta
Learn & Earn
MCX Consolidating since 5 months.Check the attached link.
After giving a good run up from 1300 levels Stocks is consolidating above previous all time high. Whenever it breaks the box it will give a sharp move.
As the stock is trading in lower half of the box. RR is favorable.
Good volume activity in last few days, strong green bodied candles with volumes in last few days.
View negates below demand zone marked.
Not a Tip/Recommendation
MCX go LONGMCX looks bullish adding new derivative like rubber will give an edge for upcoming trades.
MCX Channel Support 2020-12-08MCX has been trading within a range and has come to the support of the channel. This seems to be the best possible place to buy for short term.
Disclaimer: This is just my personal view. Please do your own research before trading.
MCX near SupportWait for support to come and then with a small stop look for resistance zone above 1700
MCX Profit Booking and retest of breakout areaMCX weekly chart suggests profit booking and it has high probablilty to retest breakout area of INR1400. This dip may create a good buying opportunity near INR 1400.
