MCX- Falling WedgeKeep an eye on MCX. Triple bottom formation. Can give a falling wedge breakout. SL - 1220, Tgt: 1450+
MCX trade ideas
[Diary] MCX Price Action Overview. Its intraday short as I am posting it (with SL at day high) but this is a general overview
Note -
One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells at "where" to act in "what direction. Unless it triggers, like, let's say the candle doesn't break the level which says "Buy if it breaks", You should not buy at all.
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I use shorthands for my trades.
"Positional" - means You can carry these positions and I do not see sharp volatility ahead. (I tally upcoming events and many small kinds of stuff to my own tiny capacity.)
"Intraday" -means You must close this position at any cost by the end of the day.
"Theta" , "Bounce" , "3BB" or "Entropy" - My own systems.
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I won't personally follow any rules. If I "think" (It is never gut feel. It is always some reason.) the trade is wrong, I may take reverse trade. I may carry forward an intraday position. What is meant here - You shouldn't follow me because I may miss updating. You should follow the system I share.
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Like -
Always follow a stop loss.
In the case of Intraday trades, it is mostly the "Day's High".
In the case of Positional trades, it is mostly the previous swings.
I do not use Stop Loss most of the time. But I manage my risk with options as I do most of the trades using derivatives.
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Target zone expection time 1 week
Counter is trading around confluence of support zone ,,
lets see if support zone is respected
1. Bottom Fishing
2. RSI Reversal
Buy for a tgt 1441
SL 1325 {day closing}
It is just a view, pls trade at your own risk.
Multi Commodity Exchange of India Ltd - 20.07.2022MCX Ltd - 20.07.2022
The stock is trading @ 1388 levels
There is a STRONG RESISTANCE @ 1399 levels
Let the prices go above 1414 and sustain the same in weekly close
The prices are above EMA
Watch out for the price action
LONG MCXEnter in MCX between 1600 and 1450....wait for reversal with volume on lower TF........ No sl as it was for investment purpose....... Immediate target for swing traders will be around 2000,2300 and long term above 2500 easily......levels are marked........ best buy if goes around 1200
McxMcx breakout above 1310. Leval are 1310 break and consolidate price than move 1st target are 1600.
Given 9 month old trendline breakoutThe stock has given a trendline breakout and looks good above 1315 levels for both intraday and swing.
Swing buy on day closing basis for targets 1370 and 1435.
Learn & Earn,
Dr. Tanya Kumar
Falling Channel Breakout in MCXThe falling channel breakout observed in stock. The level of Rs 1428 will be a key resistance level, if price surpass that level then have a potential of further upside of 20-25%.
Level marked in chart and stop loss will be below Rs 1270.
Key Points:
- Falling Channel : Price was making lower low in channel and pattern break with upside movement.
- Volume surge
- Support & Resistance
- Technical Parameter i.e., EMA , RSI , Volume Profile etc.
Thanks
STOCK ANALYSIS FOR 30/05/2022 MCXGood evening friends watch video for detailed analysis of MCX
Regards.
MCX fut or cash short below 1230 - 15 min candle closing basis MCX fut or cash short below 1230 - 15 min candle closing basis
Target 1225-1220-1215-1210-1200+
Positional or Longterm opportunity in MCXGo Long above 1317.05 for Targets of 1491.1, 1665.15, and 1839.2 with SL 1143
Reasons to go Long :
1. On a Weekly timeframe if we draw the Fibonacci retracement tool from the recent swing low (point A) to the recent swing high (point B) then we see stock took support from the 0.618 Fibonacci level.
2. In addition to this a bullish candlestick pattern Bullish Engulfing (marked with orange color) is formed around the 0.618 Fibonacci level.
3. Also there is a strong Trendline (marked with green color), from which the stock is taking support and moving up.
MCX | Trendline + Flag breakout ahead, looks potential for 25%MCX | Trendline + Flag breakout ahead, looks potential for 25%
CMP : 1450
SL : 1380
Target : 1750
1:4+ risk reward setup
Target calculated based on Flag length + Fib level.
MCX IS A BUY ABOVE 1470.Keep MCX on your radar. Resistance is at around 1470 levels. Add if it crosses 1470 level. will update stop loss if it crosses 1470.
Target 1 1580
Target 2 1659
MCX is now new GoldThe MCX has corrected by 45% from 14/10/21 - 24/02/22. On daily time frame we can project the Elliot wave impulse pattern and we can see that in coming days this is the next projected move with best returns.
MCX Looks good !!MCX : cmp : 1430.2
A double bottom kind of pattern has been formed in hourly chart. .
On the verge of breakout.
Closing above previous highs.
RSI & MFI trending up.
buy on dips.
Accumulation zone : 1420 - 1440
Profit booking zone may be : 1498 - 1542
SL 1401/According to your risk appetite.
Positionally can move 1760+
Sl 1358 Dclbs
May future as well as May 1440CE/1500CE can be look after for decent return.
Disclaimer: Ideas for learning Only.
Learn Regularly. Not occasionally
If you find this helpful and want more trading/Investment Ideas.
Please show your support back,
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❤️ Your Support is very much appreciated ❤️
#MCX closed above boxMCX after long fall showing strength and closes above mother bar box. Double bottom formed and HL made, once closed 1500 HH will be formed. ST 1600
MCX LOOKS GOOD FOR LONG TERMCurrent Stage - Accumulate between the Red & Green Rectangles
SL- Below 1300
TGT- 1500,1700,2000
Time- 1-3 Months
