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MGL trade ideas

MGL Rising wedgeMGL has given a good breakout above 930 two weeks back, however post breakout follow through is missing and price has started showing weakness due to absence of any follow through, and is facing resistance in 50 to 61.8% fibo pullback zone from June 21 high to June 22 low. Chart is also showing a rising wedge formation on weekly timeframe, and current weekly candle has closed below the doji of previous week's low which is also a sign of bears taking control of this after the breakout. If the price start sustaining below and even breaks down support trendline then it can even correct upto 850 and below levels.
NSE:MGLShort
by aktradelearning
[Intraday] MGL Buy IdeaNote - 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. ======= 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. ======= 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. ======= 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. =======
NSE:MGLLong
by Amit_Ghosh
A successful Breakout Seen in MGLIn the case of MGL stock, if there is a confirmed breakout from the ascending triangle pattern, it could indicate that there is a strong likelihood of further upward momentum in the stock. However, it is important to note that technical analysis is just one tool in the decision-making process for investing in stocks, and it should always be combined with fundamental analysis and a thorough understanding of the company's financial health and industry trends. Additionally, it is important to manage risk by setting appropriate stop-loss levels and position sizes.
NSE:MGLLong
by masihulla786
1
MGLMGL:- Rounding bottom pattern is formed, stock is about to give breakout after 1 and half year, if breakout occurs then we can see upside movement, till then keep your eye on stock 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:MGLLong
by AjayDhakad_Keep_it_simple