USDINR - Formation of a wedge pattern

Description

⋅ Jun 29, 2020 7:26 AM

Note: This is for educational purpose only.

There seems to be a formation of wedge pattern in USDINR forex pair. RSI below 50 shows loss in momentum. Need to wait unless the channel is broken.

Comments

PavanKumar-CH-ND

⋅ Jul 3, 2020 5:37 AM

Looks like channel is broken will it be bearish or should we wait for better signal for shorting ?

kalyanganguly

⋅ Jul 3, 2020 6:16 AM

@PavanKumarChnd, Channel broken with high selling volume. I am expecting further downfall. Note: This is for educational purpose only.

PavanKumar-CH-ND

⋅ Jul 6, 2020 4:55 AM

@kalyanganguly, what ever we are seeing now is re-tracemeant or was it a false breakout ?

Rajasarma

⋅ Jul 2, 2020 1:20 PM

Today i bought 3 lot usdinr 29 july@ 75.06 what is my SL & Target??

kalyanganguly

⋅ Jul 3, 2020 6:17 AM

@Rajasarma, Please wait for channel breakout (up or down) before taking a trade. I did the same mistake before. Channel broken with high selling volume. I am expecting further downfall. Note: This is for educational purpose only.