Hello friends , Thank you all for prioritizing my idea. hit the like button and also follow for new update.
let's talk about chart.. we have to conditions after break or while retreat from resistance.
here we can see some Area where No trading activity founded it Is outlined as "Area Zero " and trend-line is breaking every previous Resistance.it has just broken...
The first leg of irregular correction has started to appear from 77.01. Now a trading opportunity is visible on price charts which can drag prices lower to:
i) 74 being 100% extension of wave A in an ideal case
ii) 73.22 being 138.2% extension of wave A in most cases
iii ) 72.70 being 161.8% extension of wave A on rare occasion
A break below 75.40 would provide...
The support of 62-63 is quite solid. I think this is the last low before it targets 80 above and its a good time to buy.
take entry around 63-65 with a strict stoploss of 10-12 aiming 81-89 in next 1-2 weeks as time frame is most important part of trading hold with patience and believe in yourself. Happy Trading.
USD INR is both bullish and Bearish, let me explain in detail, as per the Elliott wave we can see a small up movement till 73.15 after than its clear down trend at least till 70.4
so one can short if it cross below 71.54 without doubt, lets see how it goese
NEW ALL TIME HIGH MUST BE INCOMING IN USD INR ...THAT MEANS BAD ...WORSE FOR INDIAN ECONOMY ..I ASSUME TILL END 2019 WE CAN SEE NEW ALL TIME HIGH IN USD INR .
THAT MEANS I WILL HEDGE MY ASSET VALUED IN INDIAN RUPPEE ..INTO DOLLAR OR WILL LONG THE USD INR PAIR .