NeelamN

USDINR DOW theory Weekly View from Monday 14Jun2021

Long
OANDA:USDINR   U.S. Dollar / Indian Rupee
USDINR DOW theory Weekly View from Monday 14Jun2021

Uptrend in Daily Timeframe
USDINR has broken out of a triangle/ flag pattern
Retest of the same is expected to go higher.
However, gap up possibility is also considered, if this happens we are super bullish on it if it stays above the gap for at least an hour.

Details given on the chart.

Happy Trading !!!
Trade active: 1st Target touched.
Trade closed: target reached: All targets achieved...

Comments

Great
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Whats the upside u looking at
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NeelamN akjselloption
@akjselloption, Green dashed lines are the targets bro
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Hmm. I am excited to trade in Usd INr require ur guidance
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NeelamN akjselloption
@akjselloption, Excitement is an emotion. Trading must be emotionless ! ;) ;) ;) Study Study Study first before trading.
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Great , Do you sell long distant puts or near ones. As i saw long distant puts doesn't have that much liquidity.
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NeelamN rajusahu1989
@rajusahu1989, I sell both current n next expiry PUTS. if I see momentum in price and I have free time to see the screen, might as well buy calls when I have "bullish" view. (today I did that :) )
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Is it advisable to hold USD/INR pair as there is a Fed meeting this week regarding Interest Rate ????
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NeelamN rajusahu1989
@rajusahu1989, If you are Buying an option and holding, it is not advisable, as option will loose theta (time decay happens)
If sold options, then may keep a stop loss and hold if your analysis says so too.
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@NeelamN, thank you
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