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Reversal

USDINR Trend reversalBoth USDINR and DXY have been trending downwards since March and finally USDINR has made a base at 72.7. It has already started showing strength in and is forming an upward channel. It is likely to test the upper end of the channel by end of this expiry. Target of 74.5 by end of this month. Stop loss daily close below 72.25. It can still go higher if the upper-end of trend linebreaks, will update that later Its better to play this trend with options by doing a bull call spread
ULong
by revanthchalamalasetty
4
#LETSTALKABOUTMARKETS - JSW STEELThe stock has rallied almost 33% in the last 2 months, there needs to be a correction or consolidation phase. One needs to be cautious not to enter long at this point as technical indicators suggest a short set up. 1. RSI negative divergence - The price is increasing at a very fast pace but the strength index is not following the path as indicated in the chart. 2. Bollinger Bands - The stock should close below the Bollinger band and might drift towards the average line. One can take a short set up with a strict Sl at 333 with a target of 300. This is purely for educational purposes.
NSE:JSWSTEELShort
by je_sh
Learn RSI Part 1 : Basic of Relative Strength IndexHello Traders, I am back with the new educational concept. You may have often heard the word "RSI" We are going to study about RSI : "Relative Strength Index", which is the most used indicator. RSI is the price following indicator and it provides important levels from 0 to 100. The important levels of RSI are 40-60, 70-30 and 50 ------------------------------------------------------------------------------------- Why do we practice RSI? There are a few reasons for using the most important indicator. 1.) It provides over bought & oversold levels. If RSI goes above level 70, we can say it has "overbought" and if RSI goes bellow level 30 we can say it has "oversold" Q.1 What is oversold & overbought? A: These two terms are extreme level when the price reaches this level, reversal is possible So shall we travel further? YES! Cool! 2) RSI gives us the direction of where the trend is going! I have added level 50 as an important level. So, if the price is below level 50, we can say that atmosphere is bearish and if price is above level 50 we can say that atmosphere is bullish. In short, Bearish below level 50 Bullish below level 50 It is better to draw a horizontal line at level 50, to have a check on it easily! We will continue the series it will cover the divergence and many more indicators. --------------------------------------------------------------------- If you have any doubts, you can put them in the comment section below.
NSE:SBICARDEducation
by Trade-Technique
16