MCX FLAG POLE After results shock buyers supported the price and looks confident for higher prices. On 15 min chart pole flag pole is in formation suggesting BUY for 1650 Targets can buy near breakout.
MCX trade ideas
MCX - Weekly AnalysisIn the Weekly Chart of MCX ,
we can see that; after the Multiple failure of Cup & Handle Pattern,
It has now given a strong breakout with 3 White Soldiers Candle Pattern.
Let it retest the trendline then Enter with SL.
MCX triangle pattern breakout in the upper trend lineMCX gave breakout on the upper side. Looks good for go long.
My First target will be 1530. Second target is 1630
Good buy above breakoutBuy above 1500, SL target mentioned. Will move SL to cost once it gets in favor.
MCX - Chart Pattern Observation 3Candlestick Chart Pattern - Shooting Star
Relevance - It is a reversal pattern after a bullish/bearish momentum gets exhausted in the market.
The above chart is for observation and learning purposes only.
MCXMCX is trading at multiple strong support zone of 1367-1365.
As long as it stays above these levels,
Its a buy with mentioned stoploss & targets,
MCXmcx is near vey important key level , any down move could drag it towards 1245 . keep an eye view negated above 1430.
MCX chart studyMCX SPOT CMP 1380
240 mins time frame.
Chart pattern study.
Symmetrical triangle pattern fromation.
Breakdown confirmed around 1440-1450 levels.
Descending triangle pattern formation, demand zone around 1340-1350 levels.
Need confirmation around this demand zone.
Either reversal or either break down would lead to fresh journey for the counter.
This will be conditional view.
MCXMCX broke out of descending channel with decent volumes on an hourly TF.
Risk:Reward in this trade is very much in favour of bulls.
Could be bought with mentioned stoploss & mammoth target.
[N] Cases of False Breakouts and Minor BreakdownsNote -
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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MCXMCX trading on crucial level of 1495 which turned resistance from support & its breaking above tht level with good volumes.
Could be bought with mentioned stoploss & target.
MCXMCX broke out of descending triangle pattern on daily charts with decent volumes.
Could be bought positionally for mentioned targets with stoploss.
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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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
