AbhishekHSinghCMT
Long

USDINR - Next Path (Holding 70.35) Expect 72.25 - 74.50+

FX_IDC:USDINR   U.S. Dollar / Indian Rupee
Trading Strategies

Plan A - Risky Traders
  • Buy with strict stops below 70.35 for 72.25
    Buy above 72.50 for 74.50
    Buy above 74.50 for 75.50-76 handle


Plan B- Safe Traders (Post Pattern Breakout on upside)
Buy only above 72.25 for 74.50 & above targets as mentioned in Plan A

Note - If USDINR moves in desired direction as expected upside holding 70.35/70.50 handle as support zone - Traders should be careful for Equities.


Thanks for Support
Jan 11
Trade closed manually: 12:06 Hrs / 11th Jan 2019

Last Price - 70.95

Kindly manage your risk & trade. Safe Traders -they should trade only when pattern breaks out which could be either upside above 72.25 or below 70.35

Thanks & have a nice weekend.
Jan 31
Trade closed manually: 19:47 Hrs / 31st Jan 2020

Last price @71.44

Hope You Enjoyed The Fall 71 handle close to trendline at 70.70 & Bounce to 71.40/71.50.

Last Snapshot for this idea. Wish You All Best of Luck.

Best Regards,
Abhishek H. Singh, CMT
​Growth Director - India
http://in.tradingview.com
| LinkedIn
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ

Comments

thanks for the nice explanation. Any reasons why the fall was so hard just in a span of 3 days.
Reply
@lkvinodh, Technically, Triangular correction is 5 wave structure - If I am correct in my assumption - we are in 5th & final wave of the corrective pattern which takes support from trendline 70.35 -70.50 & extending on downside. Fundamentally, Smoother talks from US President- Mr. Trump supported the USDINR fall & Bounce in Global Equities along with India Nifty, which became super bullish holding 12000 levels- I suggested that Nifty could bounce to 12050/100/120 & abve 120 for 12180 - all updated in Nifty last video idea - "Culmination Point- Part 2" in my profile page.
Reply
lkvinodh AbhishekHSinghCMT
@AbhishekHSinghCMT, Thanks a lot for getting back on the query.
Reply
lkvinodh AbhishekHSinghCMT
@AbhishekHSinghCMT, with nifty and banknifty falling badly. Usdinr has not moved much and it even fell today. Do you think the prices have already factored these fall and even the imf estimate
Reply
Thanks for the update
Reply
@Manav2805, Welcome
Reply
nice one... Abhishek Singh .. what kind of impact on Equities we should expect... market will give good fall? 11880 around? as per your nifty chart?
Reply
@ashokakbari, Fall can be expected if USDINR moves in expected desired direction with good momentum. We will wait for markets to react & participate later.
+1 Reply
ashokakbari AbhishekHSinghCMT
@AbhishekHSinghCMT, great.. waiting for the time.. expecting 12350 around U turn in market.. lets wait and watch Thanks Gurudev
Reply
Thank you very much for the lovely updates.
Reply
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