Short USDINR Downtrend Continuation Day 2
Updated
Sometimes simplicity is just the key to success.
Previous Channel and Current pattern in downtrend confirmed a bearish continuation again. This post is just to encourage you that you can earn with just simple analysis.
A 'Symmetric Triangle' breaking downside in a downtrend confirms that bulls have been tired and couldn't take the price up again. This is a confirmation for Downtrend Continuation. With this knowledge and waiting for a price action on charts can give you better results. RSI also gave a confirmation which increased the probability of success. You do not need advanced knowledge about indicators and patterns for this.
Analyse the given Entry point, SL, TGT, S&R. Most importantly just try to Trail SL below your entry point whenever possible.
#Tgt1 achieved easily and RR more than 1.5
(PS: Couldn't post earlier due to technical isuues)
This explanation is only for educational purpose and isn't any kind of recommendation. Don't take any action based on this explanation itself. Consider your financial advisor before taking any trades.
Thanks for your time. Happy Trading and Learn something new Everyday.
Previous Channel and Current pattern in downtrend confirmed a bearish continuation again. This post is just to encourage you that you can earn with just simple analysis.
A 'Symmetric Triangle' breaking downside in a downtrend confirms that bulls have been tired and couldn't take the price up again. This is a confirmation for Downtrend Continuation. With this knowledge and waiting for a price action on charts can give you better results. RSI also gave a confirmation which increased the probability of success. You do not need advanced knowledge about indicators and patterns for this.
Analyse the given Entry point, SL, TGT, S&R. Most importantly just try to Trail SL below your entry point whenever possible.
#Tgt1 achieved easily and RR more than 1.5
(PS: Couldn't post earlier due to technical isuues)
This explanation is only for educational purpose and isn't any kind of recommendation. Don't take any action based on this explanation itself. Consider your financial advisor before taking any trades.
Thanks for your time. Happy Trading and Learn something new Everyday.
Note
#TGT2 achieved🔥Note
Look on 4H chart. A further correction might be witnessed.chart code below
/x/myWUZBJc (put this after tradingviewdotcom)
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