USDINR Oct View
Updated
Hey Folks !
USDINR Correction did a pennant breakout instead of the Breakdown as expected in earlier post...
So, we will trade what we see in market instead of what we expect...
Now for a longer term the trend has turned bullish with a Resistance Breakout and EMA Positive Cross Over (PCO)
If you see in the above chart, we have seen similar pattern previously and
after this pennant / flag Breakout gave two targets - 1. Flag length and 2. Pole length
So, now presently, also we have same pattern breakout...
Let's bet safe and trade Bull Put Spreads for next month...
Plan Your Trade ! and Trade Your Plan !
Happy Learning !
USDINR Correction did a pennant breakout instead of the Breakdown as expected in earlier post...
So, we will trade what we see in market instead of what we expect...
Now for a longer term the trend has turned bullish with a Resistance Breakout and EMA Positive Cross Over (PCO)
If you see in the above chart, we have seen similar pattern previously and
after this pennant / flag Breakout gave two targets - 1. Flag length and 2. Pole length
So, now presently, also we have same pattern breakout...
Let's bet safe and trade Bull Put Spreads for next month...
Plan Your Trade ! and Trade Your Plan !
Happy Learning !
Trade active
83.28 very near....Trade closed: target reached
made high of 83.28trade closed in profit
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