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NI1! trade ideas

MCX Nickel Double Top - Potential ReversalAccording to this chart, MCX Nickel is making a double top chart pattern. It's at risk of a bearish trend after double top formation. Wherein the first top at 1158.4 level, and the second top can be between the range of 1160 - 1176 . If it's a second top, nickel will make a large false break pin bar here. That might be up to the 1176 level. Afterward, the short-term traders can sell it for levels of 1106 - 1076 and below. Wait for the right entry-level, don't sell above 1160 level. Here I have drawn a neckline as a support trendline to get an accurate exit/entry point.
MCX:NICKEL1!Short
by freestocktips
1
Nickel Wave count and the future analysisOm Namah Shivay Nickel has a simple movement and a perfect EW pattern within parallel. Looks the Triangle is forming. Generally the wave e is in a hurry and moves before reaching the parallel lines. The leg E, which is the current up movement, is going to come down and then go up. The exact points where it may come down and go up, are to be analysed in lower and higher timeframe both, to confirm self. The possible move and direction are shown, But leg e sometimes goes or deviates. So it should take the abc pattern. So the movements will be mostly impulsive/agressive/steep. It may happen that the down/correction movement of e may come much later and overshoot the channel much higher. All should be analyzed separately. This is just an personal analysis, it has no recommendation or suggestion for trade. Om Namah Shivay
MCX:NICKEL1!
by sudhannayak