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MCX Silver: Intraday trading strategy & tips

Posted: 23 Dec 2020 11:24 PM PST

This is MCX Silvermini 15 minutes chart. I have used here moving average, Fibonacci, DMI, and RSI.

Fib Levels: T 71496 and B 65664

Silver will try to touch 0.382 (67892) from here. It will act as resistance. Moreover, there is a 50 MA. If silver breaks both, it will fly from there and touch 68580 levels. Intraday traders can play between it.

But if it takes a U-turn from 50 MA and breaks the 20 EMA, be ready for the following targets: 67060 – 66600.

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The post MCX Silver: Intraday trading strategy & tips appeared first on Moneymunch.

The Bat Pattern on the NIFTY:

Posted: 23 Dec 2020 10:08 PM PST

The “Bat pattern” incorporates the 0.886XA retracement, as the defining element in the Potential Reversal.
The B point retracement a 0.50 of the XA leg. The Bat utilizes a minimum 1.618BC projection which is already done.
In addition, Bat pattern is extended a 1.618 AB=CD calculation. It is an incredibly accurate pattern and requires a smaller stop loss than most patterns.

The post The Bat Pattern on the NIFTY: appeared first on Moneymunch.