OANDA:USDINR   U.S. Dollar / Indian Rupee
USDINR finally printed an Evening Star kind of pattern,
taking resistance of a downtrend channel .

Not in any trade this week as I was not very clear with my view.
Now, will take the trade tomorrow, based on price action,
will try to execute bear call spread and will try to sell on a bounce if I get one.
Trade active: Got a bounce to enter
Trade closed manually: Closed with 11% profit yesterday, didn't take risk of holiday

Comments

Going preety well as per your analysis. I find it hard to plot the trend lines in futures since it is very choppy and missing candles. How do you choose the option levels looking at the futures??
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NeelamN prakashgd
@prakashgd, Thank You ! The answer lies in your statement, future doesn't print the entire price action, hence, not following that for options is the right choice. Spot chart is this one which I follow and select options as per levels in this chart
I hope this answers your question...
+1 Reply
Hi,

Too many dotted lines , Can you help mentioning them.
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NeelamN rajusahu1989
@rajusahu1989, Yellow Parallel lines are following channel... blue dotted line is the median of that channel. There are 2 parallel channels drawn.
White inclined dotted line is long term trend line coming from all the lows of monthly candles... I hope this clarifies your doubt...
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@NeelamN, Thanks, and green dots are target?
Reply
NeelamN rajusahu1989
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