MLCF LONG TRADE - on 1H TF
MLCF has been in uptrend since Nov 2024, with a high of 79 on charts.
On LTF/1H, it has recently completed its Wyckoff Re-Accumulation Phase (blue channel) and Broke out of it in shape of Spike and Gap. It continued to consolidate in a Double Bottom Pattern.
This Spike and Double Bottom jointly formed Double Bottom Bull Flag (pink channel). Along with these events, Volume gradient also supports an impending up-move. Importantly, it created a Bullish Breaker block on 1H when it Broke out of the DB Bull Flag, which is a low-risk spot to enter the long trade. The price is also above EMA-20.
Targets have been calculated from different Measured Moves as marked.
🚨 TECHNICAL BUY CALL – MLCF 🚨
BUY1: 77
BUY2: 75
BUY3: 73
📈 TP1 : Rs. 82
📈 TP2 : Rs. 89
📈 TP3 : Rs. 95.25
🛑 STOP LOSS: BELOW Rs. 71 (Daily Close)
📊 RISK-REWARD: High Conviction | 1:5.4
Caution: Please buy in 3 parts in buying range. Close at least 50% position size at TP1 and then trail SL to avoid losing incurred profits in case of unforeseen market conditions.
PLEASE BOOST AND SHARE THE IDEA IF YOU FIND IT HELPFUL.
MLCF has been in uptrend since Nov 2024, with a high of 79 on charts.
On LTF/1H, it has recently completed its Wyckoff Re-Accumulation Phase (blue channel) and Broke out of it in shape of Spike and Gap. It continued to consolidate in a Double Bottom Pattern.
This Spike and Double Bottom jointly formed Double Bottom Bull Flag (pink channel). Along with these events, Volume gradient also supports an impending up-move. Importantly, it created a Bullish Breaker block on 1H when it Broke out of the DB Bull Flag, which is a low-risk spot to enter the long trade. The price is also above EMA-20.
Targets have been calculated from different Measured Moves as marked.
🚨 TECHNICAL BUY CALL – MLCF 🚨
BUY1: 77
BUY2: 75
BUY3: 73
📈 TP1 : Rs. 82
📈 TP2 : Rs. 89
📈 TP3 : Rs. 95.25
🛑 STOP LOSS: BELOW Rs. 71 (Daily Close)
📊 RISK-REWARD: High Conviction | 1:5.4
Caution: Please buy in 3 parts in buying range. Close at least 50% position size at TP1 and then trail SL to avoid losing incurred profits in case of unforeseen market conditions.
PLEASE BOOST AND SHARE THE IDEA IF YOU FIND IT HELPFUL.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.