Forecast
USDINR: Breakout and retest done, 75.50 coming?USDINR has broken out of the symmetrical triangle pattern formed on the weekly chart which I had discussed in my previous idea. After that it has done a retest of the pattern trendline and the 20EMA on the daily chart. If we observe a continuation bar forming, as explained on the chart, we could see a retest of 75.50 pretty soon.
Stay tuned for the continuation of the story..
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Manage risk properly and trade your plan.
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USDINR View - Bullish
USDINR has broken out of range after about 20 days.
Good Volume candle
Chart pattern - Triangle Break out
Bull put Spread strategy for next few weeks...
USDINR: Breakout or Breakdown?On the weekly USDINR chart, there is a symmetrical triangle kind of a formation. It has taken about 20 months to form on the chart. This pattern could break on either side. My bias would be on the long side because the overall trend on the weekly and the monthly chart looks definitely bullish. But I would be open to re evaluate the scenario if it breaks the pattern and the trendlines to the down side.
Possible upside long term target: 81
Possible downside long term target: 67
Wait for the breakout and retest on either side, then trade on smaller timeframes.
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Manage risk properly and trade your plan.
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USDINR - Reversal from ResistanceNote: This is for educational purpose only. Please do not trade in F&O based on this analysis.
There seems to be a bearish reversal from supply zone. Low of current candle is lower than that of previous candle.
SL: ₹ 74.70
ETH; Being the devil's advocate.This is not a prediction, I am not planning on shorting it (unless it starts to become dead obvious)
This is something that has non zero chance of happening so definitely something to be aware of/prepare for.
Dont get caught without a chair if the music suddenly stops :)
Good Luck!
USDINR View current weekHello Guys!
Hope you had enjoyed the festive season...
I enjoyed a lot... with Ganpati Bappa and Gauri Mata's Ashirwaad...
May God shower blessings on all of us...
Sorry ! As I did not post anything for a while...
This week's USDINR view is as follows :
USDINR was sideways for quiet sometime, consolidating in a triangle pattern.
It broke upwards today and I see a target of 74.25 slow and steady. Support at 73.5
So, Bull put Spread can be a good bet. Sell 73.5 PE and Buy 73.25 PE
OR
We may also Sell Strangle 73.5 PE and 74.5 CE to eat premium
USDINR View 27 Aug 2021USDINR in a downtrend channel still as published previously.
Now it is also showing Head and Shoulder pattern if breaks the neckline will give good targets similar to the length from top of head to neckline.
If it fails to break down, then sideways view continued till it breaks upside.
Will look for price action tomorrow and take position of bear call spread if it favors my view.
Happy Trading !!!
AUDCHF BUY SETUP FOUNDas we can see that audchf is came to the weekly and daily support level also we can see on m30 timeframe that market has broken trtendline ,
what i want from audchf is if audchf come to retracement on trendline than i will love for buy audchf, i think this will be great setup for live audchf signals for forex
USDINR View 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.
USD/INR preparing to move!Monthly chart for USD/INR formed ascending triangle and looks ready for a potential down move.
Things to consider:
1. Ascending Traingle formation
2. Monthly Resistance
3. Macd & RSI indicating down move
4. Half M formation (could complete to make full M)
How to enter:
1. Review the market conditions as i presented
2. Locate the monthly resistance
3. Take entry on strong down moment on 4 hr tf
ALL THE BEST!






















