Keep a Watch, It will break either side of the market...
USDINR 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 form Inverse H&S pattern. it may test 74.74 and 74.90 soon stop loss 74.00 USD INR has inverse relation with Nifty so.......
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.
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...
#USDINR gravestone doji candle pattern on monthly channel top of a potential bullish flag pattern could mean some period of down move at least.
USDINR is stucked between 50 & 200 EMA Hence, the strategy applied is Short Iron Condor Sold ATM CE & PE Bought OTM CE & PE to cover Sold Options / Hedge Break Even Points Downside BEP 74.11 Upside BEP 74.64 Max Profit expected : 12%
USDINR in Channel Taking Support and Resistances in the channel drawn. Looks downtrend in near future. Happy Trading !!!
USDINR not making higher high or lower low range 74.40 to 74.75 Made Short Iron Condor. Sold 74.75 CE & 74.25 PE Bought 75 CE & 74 PE Will exit bear call spread if breaks down or exit bull put spread if breaks up.
#USDINR that bearish wick is RBI doing its job fundamentally and channel top resistance chartwise
Scenario 1 : Continues the Head n Shoulder breakdown (can you spot Head and Shoulder?) to achieve T1 of Head and Shoulder breakdown target & 200 EMA Support. If breaks further, then T2 can be achieved which is a support of 2 hammers printed previously. Scenario 2 : If it does not break and open flat or gapup, it may consolidate here before breaking down....
Watch out for trend reversal USDINR At resistance
Possible Top is formed with Fake Breakout and strong inverted hammer. View : Sideways to Bearish Resistance @ 74.75 Support at 74 Short Straddle 74.75 or 74.5 Strike is possible Or my favourite Bear Call Spread. Sell 74.75 CE and buy 75 CE this must be done on bounce, if we get one for this week's expiry.
USDINR formed a bearish divergence Carrying a bear call spread for this week's expiry Sold 75 CE and Hedged 72.25 CE, buying it.
USD INR:- it is working as per our analysis. it reverted from 73 and both targets were well achieved 73.44 and 74.20. Now it is sustaining above 74.20, so it may test 74.68 to 74.74. It has inverse relation with nifty so correction may come. Dow also has at major resistance as per chart 35500.
Note: 1. Views are personal and for educational purposes only. Recheck and take the trade as per your RR. 2. Always remember SL is your lifeline, not the big target... 3.Follow us for more patterns and like, share so that we feel it is helpful to many and share more patterns... 3. Views given here is not a tip rather it is for educational purpose... Aftermarket...