ZOOM CANDIDATE MCX is looking good on daily chart breaking falling trendline and closed above successfully followed by 20 days moving average which finally managed to closed above on it after many sessions and the RSI indicator is giving a positive divergence signals too which is looking coming bullishness in this stock.
Cause of long-:
1- Falling resistance breakout.
2- RSI positive divergence nd breakout.
3- 20 days moving average breakout.
MCX trade ideas
Channel Breakout in MCXFrom past few months stock has been trading in a channel. Finally it has broken from its previous resistance with significant volume.
Also, recent quarter results were good. we can expect a good upside move from current levels.
At this price risk reward is not attractive. So, it is better to wait for retest near 1435-1400 levels.
Maintain strict stop loss at 1290.
All possible targets are marked on the chart.
This is just a view, not recommendation to trade. Do your own analysis before making any investment.
Do like and share this idea and share your opinion in the comment section.
NSE:MCX
Bullish Bat in MCXRules of bullish bat
B retraces 0.382 to 0.5 of XA.
BC retraces 0.382 to 0.886 of AB.
CD is a 1.618 to 2.618 extension of AB
D is at a 0.886 retracement of XA
But in our chart there will be small differences and deviation but according to the adjustments the ratio need to be matched .
However with perfect ratios it is rare to find but most of the time with some deviation it works
MCXMCX ....
1 - trading in channel / and in big time (weekly) its
forming inverted h&s
2 - good volume
3 - trading above 100 and 200 ma its positive
move
4 - good rsi momentum 60.5
5 - 1359 is lont time resistance if its break then
it will give upper big move
6 - check weekly chart der its forming inverted
h&s
for short term move enter above day high
t1 @ 1359
t2 @ 1400
inverted BO target
t3 @ 1444
t4 @ 1495
t5 @ 1546
mcx descending triangle breakdownMCX
Time frame- DAILY
*Resistance - 100 DMA
*Support - 1095, 1025
*Short term picK
*Reason- Multiple time tested support, now this support is very weak.
Descending triangle formation breakdown after long consolidation.
Disclaimer:- I am not SEBI registered analyst. Only for information and education purpose. Please consult your adviser before investing.
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MCX Ltd - 02.09.2022MCX Ltd - 02.09.2022
The stock is trading @ 1277 levels
The PRICES ARE BELOW EMA
There is a MACD BULLISH DIVERGENCE in Daily Chart
There is a STOCHASTIC BULLISH DIVERGENCE in Daily Chart
There is a RESISTANCE @ 1291 levels
RSI needs a BREAKOUT in Weekly Chart
Watch out for the price action
[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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