Dollar Rupee- Sideways Choppy- Can of Worms 71.50 - 73.00

18:46 Hrs 24th Sep 2018

Last Price@72.71

Hello Brothers & Sisters,

Dollar Rupee is trapped between 71.50 -73.00 zone and doing sideways choppy move - looks like something is left on the upside. So any move above 73 which is short term double top shall open can of worms as rupee can depreciate more or become more weak as compared to dollar.

If this happens then you will have to spend more rupees to buy same dollars.

can of worms
A can of worms is a situation or subject that is very complicated, difficult or unpleasant to deal with or discuss.

or

A complex unexpected problem or unsolvable dilemma.


Trading Strategy

Plan A - Look to Buy dollars in the zone 71.90-72.10 zone- strictly holding above 71.50 mark for upside target 72.90 -73.00 zone.

Plan B - Hold your buy positions from Plan A -once it starts moving above 73.00 mark & look for target zone 73.75-73.90 upside -later take rest

Plan C - If crosses 73 mark & holds above 73 then look for 73.75-73.90 as suggested above

Previous Connecting Idea on Dollar rupee

Trade active:

10:27 Hrs 25th Sep 2018

Last Price@72.82

Turns down from 73 - Wow!

Trade active:

15:15 Hrs 25th Sep 2018

Last Price@72.58

Well Play Mr. Rupee!

Trade closed: target reached:

22:36 Hrs 22nd Nov 2018

Last Price@70.70

Done and Out

Rest Taken at 73.90 as suggested in the post - dollar rupee tanks down to 70.70 as of today.

Shall come up with latest update soon.