MCX trade ideas
22nd March || MCX - Intraday Targets AchievedGood evening,
We had put out this Trade Idea pre-market and the Levels were achieved quite quickly during the begining of the day. Even though the markets were extremely choppy and volatile, we just need one good trade a day to make sure we leave the markets in the Green.
Hope you'll had a good day.
TradeRyte !!
MCX - Intraday Trade Levels || 22nd March, 2023 Analysis Criteria Used:
1. Please find the Chart Analysis done for the 22nd March, 2023
2. The analysis for the Intraday Trade ideas, has been done based on Trend analysis and Chart Patterns with Volume Buildups
Focus On:
1. Always keeping your Risk Management in play
2. Using a Stop Loss; because it is your Best Friend
3. Always Plan your Trade and stick to your Plan
4. Dont overthink or overanalyse
5. Treat this as your Business and get serious about it
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DISCLAIMER:
𝙊𝙪𝙧 𝘼𝙣𝙖𝙡𝙮𝙨𝙞𝙨 𝙞𝙨 𝙛𝙤𝙧 𝙀𝙙𝙪𝙘𝙖𝙩𝙞𝙤𝙣𝙖𝙡 𝙥𝙪𝙧𝙥𝙤𝙨𝙚𝙨 𝙤𝙣𝙡𝙮.
* Please do your own research and/or contact your financial advisor before taking any trading opportunities
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MCX - Multi Commodity ExchangeBuy this opportunity today or tomorrow.
MCX is a great company so you can trust and be assure from the fundamental angle.
Technically it should make a new high till 1900 till coming july month
MCX- on the rebound?
The stock has tested the previous resistance levels and has fallen till 0.5 fib levels and is on rebound. can be a good buy if sustain above the resiatance area(marked). 1692-1695. with SL below 1690
upside target could be 1900/2028
MCX took support and now positive#MCX took support at long period support area of 1400-1425 and now 1600. Still lot of room there for upside for 1750/19750
The company has a 96.48% share in the commodity derivatives market. It controls 100% share of Precious metals & stones, Energy & base metals with exception with agri-commodities
MCX may go up till 1675 SL 1400 with in one month As per Harmonic PRZ pattern, MXC may go up till 1675 SL with in one month
buy mcxit has retest previous breakout levels and also taken support of 200EMA. we may see upside till 1550/1590. view negated below 1410 closing basis
MCX 1644 DATED 20-12-2022 Shooting Star CandleMCX 1644 DATED 20-12-2022
1. Shooting Star Candle @ Resistance
(Negative Candle)
2. RSI Divergence
Sell below 1635 for target 1605-1585-1560-1540
SL 1675
Disclaimer :
I am not a SEBI registered Analyst so please do your own Analysis before taking any action.
The above view is shared just for educational purpose.
By no means shall be responsible for any losses amounting out of it incase if any trades on it.
It is just a view, please trade at your own risk.
MCXMCX:- The stock has gone to test its important level, if this level breaks, we can make a catch plan, but if the stock hits 1564.85 , If it comes below level then the stock will become weak.
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.
STEP BY STEP EXCHANGING CHANNELSMCX is looking that next breakout will happen very soon in this stock so I try for how when and why logic in this chart, as we can see on daily chart I am sharing below that it was a clear breakout on at 1490 levels so after that breakout it continue trading in parallel channels and each time when it breaks pervious channel it shift it's trading in to new channel so we can see a possible breakout if it will succeed to break current channel and sustain above so we can see the targets of 1742 and 1832 in this stock.
DAILY TIME FRAME BREAKOUT
PREVIOUS PUBLISHED IDEA AT SAME 1490 LEVELS
Wyckoff Phases in PracticeWe all know that market moves in Phases. The four most popular phases are –
1️⃣Accumulation
2️⃣Markup
3️⃣Distribution and
4️⃣Markdown
Mr. Wyckoff analyzed these phases further, esp. Accumulation and Distribution, to understand the price behavior for potential opportunities to trade/invest in the market.
In this tutorial I am going to have a brief discussion about Accumulation-sub-phases of the market with the help of an example that I came across today.
✅ Phase A
🚩Starts after a major downtrend.
🚩Begins with a selling climax (SC) - Large down bars with abnormally high volume (see B).
🚩SC is followed by the largest rally in the major downtrend, associated with good buying volume. This Automatic Rally (AR) represents the change in character (ChoC) of the market - buyers taking over.
🚩Market retest the level B with a lower volume (supply) – Secondary Test (see D).
✅ Phase B
🚩Usually the longest phase.
🚩High volume during rallies (eg. E) and lesser during retracements.
🚩Even if volume is high during retracements, price fails to make new lows.
🚩More secondary tests (see F) held at the support zone (B and D).
🚩Market consolidates testing supply and demand with no particular direction – Consolidation.
✅ Phase C
🚩The smallest but most important.
🚩Usually ends with a Spring (not in the above case).
🚩You would see final shakeout of weak buyers. Price dips underneath the support zone (B, D and F) and reverse sharply back above support.
🚩Perhaps the best time enter for those who like to take low risk high probability trades.
🚩In the above case G was just another test of support Zone.
✅ Phase D
🚩You would see swift action in this phase. Wide up bars (with high volume) and small down bars (with low volume).
🚩This also represents the change in character which now differs from the consolidation phase.
🚩ChoC - Notice two blue rectangles and the price action in them.
🚩Price breaks the resistance zone (mostly the high of automatic rally).
🚩It again retests this resistance which now starts acting as support. This is called the Backup action.
🚩This is perhaps the best time for those who like to enter after confirmation.
✅ Phase E
🚀Accumulation is over and a trend is established.
Not all bear markets end with these accumulation-sub-phases. You may often see V-shaped recoveries just like what we experienced after March 2020 lows. But you will surely find some stocks or markets that moved in line with Wyckoff phases.
Thanks for reading.
Do like and comment.
📣Disclaimer: The views are personal and theoretical. Apply your own due diligence before making your investment decisions.
MCX BREAKOUTMCX is looking strong on weekly chart by breaking falling and horizontal resistance trendlines both with good volume jump in it and Bollinger bands is also giving a breakout looking supported for coming bullishness in this stock.
Cause of Long-:
1- Falling resistance trendline breakout.
2- Horizontal resistance trendline breakout.
3- Bollinger Bands breakout.
MCX on Breakout. BUY above 1655 for Intraday tomorrowMCX on Breakout and with good volume. BUY above 1655 tomorrow (Wednesday 14th December) for Intraday gains
-------------------------------------------------------------
INTRADAY Trading Strategy based on 3 stages of a breakout:
1) Impulse upmove stage : The strong upmove (nearly upto 2% from breakoutprice) happens within the first five to 15 minutes. "High Risk Traders" buys in hope of another 2% upmove intraday.
"High Risk Traders" may have to patiently wait through the Pullback-Consolidation stage to realize profits. High risk/High reward set up as breakouts may fakeout (reversal)also
2) Pullback-Consolidation stage: After the above "Impulse upmove stage"; the price may then pull back and move sideways (between "Open" price and "High" of the above "Impulse upmove stage").
Safe traders with minimum risk profile may Wait for a breakout from the consolidation to enter at this stage to relize high profits in the final intraday final "Breakout continuation" stage
3) Breakout continuation: Stocks often in the third stage breaks up above the "High" of the first "Impulse upmove stage" and continue to go higher again.
sBoth Safe Traders/High Risk Traders may book profits at this stage
Stop Loss: You may keep the stop loss @ "Open" price of the day OR "Breakoutprice"
The above information is not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendation.
MCX After facing multiple resistance at the same trendline, beautifully came out of the zone.
Pullback can be the best short term trading opportunity.
MCX GOOD TO WATCHGood to keep watch
Always respect SL & position sizing
Trade Secrets By Pratik
Disclaimer
SEBI UNREGISTERED
This is our personal view and this analysis
is only for educational purposes
Please consult your advisor before
investing or trading
You are solely responsible for any decisions
you take on basis of our research
MCX rides out on good resultsMCX has broken out of a channel. Is continuing on an upward move.
Buy - 1560
SL - 1490
Target - 1780
Note : This is idea is for educational purpose only and is not a buy/sell recommendation.
#MCX abv 1587 wkly close ; tgt 1630 /1720/2043 revisiting #MCX #MCXINDIA after a fortnight,
A bullish move likely coming up on weekly close above 1587,
Large targets open-up 1630 / 1720 / 2043 #candleshunting
Maintain tight stoploss 1460 on weekly closing
Good Entry - MCXAfter ATH, a small downtrend followed by consolidation and breakout of the consolidation on long side. Now flag formation. Good to enter in flag. SL would be below Flag lower TL. Aiming for 1:2 RR. Anything above that is bonus if big breakout comes.
MCXW Pattern BreakOut
BreakOut done & consolidation is on.
Buy @ cmp & in dips till 1460 | WCBSL 1432 | Tgt 1700 / 1800+
MCX IS ON EDGE OF BREAKOUTIF market supports, then MCX is ready to fly. it's going to be breakout above 1555.
MCX LOOKING GOOD FOR SWING TRADING.MCX stock has given a breakout on 1 day time frame. MCX stock is closed and sustained above the Resistance Level of 1497. Expected target for the MCX is 1637 (almost 6 % from CMP). stop loss is 1446. Do your own analysis before trading in this stock.
