Vikalpbothara

What's the next course for USDINR? Will it be a Breakout?

Vikalpbothara Updated   
OANDA:USDINR   U.S. Dollar / Indian Rupee
The Flag pattern as seen is generally considered to be a continuation trend. So a Buy will only be triggered post breakout of the trendline.
Comment: Looks like a downward movement. I have initiated trade at 71.1075 Mar futures. Let's see how this one goes. Mar futures since the feb expiry is near and i don't think the downside tgt will be reached in coming few days.
Comment: So i closed my shorts at cost. And entered new lomgs post breaking 72.25 for the next target of 74.5.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.