USDINR where it's heading nextUSDINR where it's heading next?
Put your opinion we will discuss if possible.
USDINR
Short USDINR Downtrend Continuation Day 2Sometimes simplicity is just the key to success.
Previous Channel and Current pattern in downtrend confirmed a bearish continuation again. This post is just to encourage you that you can earn with just simple analysis.
A 'Symmetric Triangle' breaking downside in a downtrend confirms that bulls have been tired and couldn't take the price up again. This is a confirmation for Downtrend Continuation . With this knowledge and waiting for a price action on charts can give you better results. RSI also gave a confirmation which increased the probability of success. You do not need advanced knowledge about indicators and patterns for this.
Analyse the given Entry point, SL, TGT, S&R . Most importantly just try to Trail SL below your entry point whenever possible.
#Tgt1 achieved easily and RR more than 1.5
(PS: Couldn't post earlier due to technical isuues)
This explanation is only for educational purpose and isn't any kind of recommendation. Don't take any action based on this explanation itself. Consider your financial advisor before taking any trades.
Thanks for your time. Happy Trading and Learn something new Everyday.
USDINR 4H. Pattern broke out and price took support at 75.84.Finally, That long consolidation pattern broke out and the price seems to respecting 75.84 level which crucial to maintain further up move.
if it happens taking support at 75.84 then 77 and 78 on the way.
Reasons:
1. Price broke out the long consolidation pattern Triangle, pennant .
2. Keeping in that RSI still deviating but price structure is still bullish .
3. Price took support at pattern break out level 75.84. (Watching) *if it really happens then carrying long position is a good idea looking for 77 and 78.
Estimated bullish run in USD/INR As per the pattern, dollar might show a steep rise (60-85° angle) in near future. As per the known situations, in long term dollar may face a sharp fall but before that if the pattern breaks out on chart, dollar can witness a sharp bullish rally for a short term.
This explanation is only for educational purpose and isn't any kind of recommendation. Don't take any action based on this explanation itself.
Consider your financial advisor before taking any trades.
Thanks for your time. Happy Trading.
More weakness to come in INR..USDINR heading towards 80!USD continue to get stronger against emerging market currencies, one can sell 76.5 PE for easy premium this week or buy 76.5 CE for month of May...
USDINR Daily time frame. what could possibly happen?I'm having bearish sentiment.
Reasons.
1. Usdinr at lifetime high.
2. Rsi strong bearish divergence.
3. price is in a consolidation triangle zone.
Question is, which way? I'm seeing probability is downside as per ordinary theory.
USD INR : Ranging at higher levels…Amidst this negative background the USDINR is bound to see a periodic thrust to the upside. The strong upward charge seen in March may have hit resistance zone around 78 but then the potential to move towards that levels still exist. The resistance zone is a confluence of a Fibonacci extension as well as modified Upper channel of the Pitchfork that shall aim to curtail the weakening. There has been some cool down in prices as can be seen but the situation does not warrant us to consider a strengthening. The situation overall continues to be bleak and we could see 74 become the new base for the USDINR in the coming months. At those levels you now have a very good support from the median line as well as the former highs that can play a part is restricting any small signs of strengthening.
what will it take to stop this juggernaut?The price action has so far only been indicating straight bullish candles.
Will the red Trendline have any impact? .. is what we need to see.
Clear Buy on USDInr Charts with good risk reward rationUSD Inr has given good breakout. All levels given in chart. I am a simple person who follows simple things without complication. This call is only for educational purpose.
Awaiting for your comments. Correct me if I am wrong.
ELLIOTT WAVE OF USDOLLAR INDIAN RUPEES DAILY CHARTelliott wave of usdollar indian rupees - daily chart
Eye on longer timeframe for USDINR.Look t the momemtum of moving upward. Expeccted downward move from approx. 13 APRL 2020 . The speed or momemutm which these currencies are going up is expected to fall at the same speed.
Nifty /Gold / USDINR - The Important Juncture Thanks from Bottom of my heart to "Sir John Murphy" for giving us such a wonderful book on Intermarket Analysis - "Profiting from Global Market Relationships"
Special thanks to my friend & follower who wrote - Think beyond Red & Green Colours. I would love to have your comment once again here in this idea as well.
Wish You all a Happy & Colorful Holi
This video idea talks about long term outlook on various asset classes such as
Gold
USDINR
Nifty
& get some clue for these asset classes.
Starting with last stock update - Indusind Bank which was published in Jan 2020 & suggested the fall from 1565 to 1050 - all targets were done & stock touched the channel bottom at 913 lows. Kindly check the idea below
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Indusind Bank - Never miss channel bottoms
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USDINR Ideas
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24th March 2019 Idea - USDINR - The Box Match at 69
10th Jan 2020 Idea - USDINR - The Next Path (Holding 70.35 - Expect 72.25 & 74.50
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Gold Futures
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17th Sep 2018 Idea - Plausible 1350-1375 Zone
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India Nifty
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29th Feb 2020 Idea - Nifty (India -Buy & Hold) - C-Wave or Corona Wave - What Next ?
12th Jan 2020 Idea - Nifty - Stellium Effect - How I cracked the top at 12295
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Thanks for checking the idea. Wishing you all once again a happy holi -
Look here two scenario.Look here two scenarios,
1) rounded downside move toward the main channel OR
2) without breaking narrow channel with up side move with volume rising.
This is really confusing for trade so, still, avoid trading without any breakdown.
