Trader_Tech
Education

Estimated bullish run in USD/INR

OANDA:USDINR   U.S. Dollar / Indian Rupee
As per the pattern, dollar might show a steep rise (60-85° angle) in near future. As per the known situations, in long term dollar may face a sharp fall but before that if the pattern breaks out on chart, dollar can witness a sharp bullish rally for a short term.
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.
Comment: It might witness 79.6930 after 78.430 ceteris paribus.

Comments

Done ✌️🔥♥.
Thanks again @Trader_Tech
Reply
@Boss_pattern_trader,
Kindly understand this first👇
"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."

But to answer your query, using 2-3 time frames is much better. You may use monthly, weekly, daily or daily, 4H and 1H time frames as per your trading style.
Higher time frames for analysis and and lower time frame for setting points of entry, exit, tgt, sl.

USD didn't sustain above the given level on any of the above mentioned time frames as per current data, so wait till it gives a good signal to go long.
Happy Trading.
Reply
@Trader_Tech,
I appreciate your explanation. Thanks for explaining in depth.
Please mention what time frame would you recommend?
Reply
@Boss_pattern_trader
Yes, market is very volatile currently. But that's the time your hard work and experience rewards you the most.

For less risky entry wait for it to settle. There will be a pullback at the given level and if it respects the new support (i.e. current resistance zone) and shows an appropriate candlestick pattern it would be sufficient for going long.
You may also apply indicators that best suits your trading style.
Have patience & don't just blindly predict the future rather let the charts confirm it first for you.
Reply
Nice analysis 🔥👏
Market is very volatile! What would be the ideal entry scenario?
Reply
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