TRADEWITHFUN247

#2 P0sitional (sl 72.70) USDINR is set to bounce back

Long
OANDA:USDINR   U.S. Dollar / Indian Rupee
Amid the market volatality the usdinr is slightly away from observation but here the setup formed in it is very promissing looks good for buy ,it can take support from this level because it is a strong support on chart
Comment: we have to wait in this trade as the position is in profit and further upmove we can expect

Comments

hello, I made a short straddle at 73.5 expire at 15jan 2021 on 8th jan 2021.
My position is negative. Will USD show some up move before 15 jan expiry ?
Reply
@focusmask, my view is still bullish but cant say that the up move will come before 15 jan
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focusmask TRADEWITHFUN247
@TRADEWITHFUN247, okh thank you
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Hi, RSI divergence is seen on hourly chart today. This might take time to bounce?
Reply
TRADEWITHFUN247 revanthchalamalasetty
@revanthchalamalasetty, yes it will take its time but still looking good maintain sl
Reply
TRADEWITHFUN247 revanthchalamalasetty
@revanthchalamalasetty, you can see i already shown the level of 73.57 , it is a resistance wait what happens
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revanthchalamalasetty TRADEWITHFUN247
@TRADEWITHFUN247, yes, i understand. But i took positions in monthly options.
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TRADEWITHFUN247 revanthchalamalasetty
@revanthchalamalasetty, strike price, entry price expiry , sl ?
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revanthchalamalasetty TRADEWITHFUN247
@TRADEWITHFUN247, @TRADEWITHFUN247, 73.5 for Jan 27th expiry @0.28. No stop loss spot 72.7, the previous swing low.
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revanthchalamalasetty revanthchalamalasetty
@revanthchalamalasetty, 73.5CE @ 0.28
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