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Gbpinrthoughtprocess

There are two scenarios on GBPINR 4h time frame.High 97.7764 and low 86.0067 in between there's a huge margin gape. In the four-hour time frame, there's a small H&S formed. Price 94.7263 has been rejected to the upside. Keeping in mind last week's mid-price is 90.8238. Conclusion: I'm looking for a price target 90.8238 as the downside and if price holds above 90.82 then possibly bullish again and 97.77 would look for price target. Reasons: 1. 94.72 price rejected to the upside. 2. Bullish structure is broken. 3. There's a small H&S pattern formed in 4h time frame. 4. There's weekly mid-price available at 90.8238.
by Ilikethehell
GBPINR rising wedge breakdown confirmed, selling to followThe pair was moving in a steep rising wedge pattern from the past 1.5 months. GBPINR, in the previous session, gave a daily close below the lower trend line of the wedge pattern, confirming a breakdown. In doing so, the pair also breached crucial support of 21 days EMA (88.1609). Now, it is susceptible to heavy selling that can take the price to 86.5692. The stop loss for the trade will be slightly above yesterday’s high at 88.9253.
Short
by forexnoobmaster007
GBPINR 4h time frame, weekly thought process.Commentary: GBPINR 4h time frame. bear flag got reject and brokeout to upside. facing strong resistance zone at 85.1537. following weekly time frame gbpinr formed h&s and still remain in bear trend. Upcoming week thought process: gbpinr is in bear trend and gave a pullback facing 85.1537 strong resistance following another resistance at 86.6605. projecting prediction it might form an inverse h&s on the 4h time frame or it might get rejected from current resistnce level. all we can gaug watching rsi level, we have to look for bear or bull divergence at overbought/sell zone. wait for a price consolidation and breakeout from that white box either side targeting upside 86, 86.6605 and dowinside 84.20, 82.50. I'll keep updating throughtout the week as price react.
by Ilikethehell