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Trading_hawk
Sep 4, 2021 10:25 PM
Simple Trade Setup | MCX | 06-09-2021
NSE:MCX
15
MULTI COMMODITY EX
NSE
Description
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Sep 4, 2021 10:25 PM
NSE:MCX
Observations:
1) On daily Time frame, it has given breakout of rounding bottom pattern. Breakout level range is 1585-1586. Nearest resistance level is 1600 level.
Please refer below chart : Daily time frame.
2)On Daily Time frame we can see that it has broken 100DMA and 200DMA with bullish candle.
Please refer below chart : Daily time frame.
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Trade Setup for Date 06-09-2021:
1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.
2) Everything is mentioned on the chart. I hope it is easy to understand.
3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level.
Please refer below chart for levels.
Hope I made it easy to understand it.
Do comment your doubt or suggestion.
Trade closed: target reached
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Sep 6, 2021 6:03 AM
Trend Analysis
MCX
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Comments
Trading_hawk
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Sep 6, 2021 6:04 AM
Target 1650 reached.
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