Wow!- 84.31 was amazing -let us go long above that level- but level GI never crossed 84.31- infact it had a sharp fall below 84.31 to 81.75
Here wave-2 retraced 80% of wave-1 which is usually the case in forex as I have seen wave- 2 retracing 99% of wave-1
Going above 84.31 or in the congestion zone shall be an opportunity to go long with stops below 82- if congestion zone 82.20-82.50 provides support-in that case strict stops below 82 & length of 84.31 as a target.
GBPINR 2016 Diary- What Next after good times@79-81
Abhishek H. Singh, CMT
Growth Director - TradingView India
YouTube Channel https://www.youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw