USD INR - Shorting opportunity

FX_IDC:USDINR   U.S. Dollar / Indian Rupee
This is my first post on USD INR - So going with a smaller timeframe.

CMP - 72.68 (Date 15.03.2021)

Pattern Formation - Falling Channel (Channel Width - 1 Rs )

Days left - 5 working days ( Analysis for 1 week)

Levels expected as per channel angle - 72.80 to 71.60 (Mar 15th to Mar 19th)

Since CMP is very close to the Upper limit and there is a possibility of a 1.1 Rs fall from CMP , sell at CMP for 1 Rs gain with 20p SL (Though median line would act as strong support, I expect the breakdown to happen)

RRR is 1:5 which is too good for anyone to test it.


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