Kinnari_Prajapati
Short

Double TOP pattern on USDINR.

OANDA:USDINR   U.S. Dollar / Indian Rupee
Flag Pattern going to over at 75.2 or 74.8

First target if reversal 73.717 and second if stay below it 72.534
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Comments

you always make this mistake, Rhine, of working on short time frames.
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karanc21 karanc21
@karanc21, *Rine
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i think, fundamentally rupee is gone and will be gone to dogs when compared to $.
Economy is in shambles, companies are going bankrupt. But Modi's 5 trillion economy is still kept alive with eyes and ears closed.
Many banks and companies are to be saved along with putting money into consumer's pocket. The only way i see that this can happen is by 'printing more money', which will make rupee useless.
No surprise if we see $ at Rs.80 or 90 very soon.
+1 Reply
@Kinnari_Prajapati how can we know if consolidation phase in flag is completed and breakout is ready to happen? Also, what is the use of first channel and rounded curve inside it ?
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If the market sentiment is not positive, then the rupee can tuch 78 to 80 level.
So be cautious.
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I wish I could have found your profile long time ago.. I'm a beginner. learning alot. thanks!
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how did you fixed the 4.029(5.67%) move , is it 50% from the flag pattern.
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@rahul007kris, no, its not from flag pattern but, you can check when up move and reversal.
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I made a long position @74.0000 so what's the probability for testing 75.2
Well there is also a rounding bottom pattern in weekly candle...
So what's your saying for the trade I made....?
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