Nickel and Illiquidity Here is a special case of a snapshot of Nickel Futures. It is entirely illiquid but from our naked eye, We can see a pattern here.
A range of machine learning algorithms and statistical models are employed to detect such underlying patterns.
From our naked eye, We can spot tradeable opportunities as shown in the dotted lines in the above chart.
LUN1! trade ideas
MCX:NICKEL1 Levels marked only for LEarning !!MCX:NICKEL1!
#MCX:NICKEL trading bullish and reached ATH,
Potential level marked on chart only for learning.
Also marked my trade details with entry and stop loss for easy reference.
Sharing live trades for gaining live market experience for beginners, target hit/not Hit doesn’t matter, only the experience matters.
Share your feedback to continue live trades like this, based on your response will share.
You can ping me directly and share your experience.
NICKEL1! - Entry 24-02-2022 Descending Continuation Triangle
Implication
A Descending Continuation Triangle is considered a bearish signal, indicating that the current downtrend may continue.
Description
A Descending Continuation Triangle features two converging trendlines. The bottom trendline is horizontal and the top trendline slopes downward. The pattern illustrates lows occurring at a constant price level, with highs moving constantly lower. The pattern displays two highs touching the upper trendline and two lows touching the lower trendline.
2020's Uptrend Channel Is Everything For MCX NickelMCX Nickel is following the above uptrend channel from 23 Jan 2020. And making a good trade opportunity for commodity traders. Nickel's upward trend is not over yet. But we may see a downfall below the control price, and it can be up to 1686 - 1620 .
But what happens if it breaks the control price?
It's a 100% sign for a buy signal. But intraday or short-term investors should confirm that breakout before proceeding. And they must look out for candle's fakeout. Afterward, be ready for the targets of 1800 - 1840 - 1876+ .
MCX nickel’s Elliott wave projection (Target 1570)Nickel has started moving forward since March 2021. It will complete the 5th wave soon.
According to Elliott wave projection, MCX nickel can touch 1570 to end the 5th wave.
Intraday & short-term traders can buy nickel for the target of 1485.6 – 1506 – 1532 – 1550 – 1570 .