From Price Action, data etc its very clear 82.50 is acting as support and 82.75 and 83 as Resistance for rest of march 2023 month......
I think before march expiry 83 will be tested at least once !!!!!!
In the past times, USDINR is trying to hold its level and now we can see more rise above the levels
Characteristics of Triangle pattern
A pattern that has the following characteristics is more effective.
+ Before breaking out, prices need to touch both resistance and support levels at least twice each for the pattern to take effect.
+ This pattern gives a...
Finally a candle breaking out the angular flag Trend line on the upside which was awaited....
So, not we can get ready to see an aggressive move above this resistance.
T1 : Target 1 - Flag's length
T2 : Target 2 - Pole's length
Strategy to be used can be Bull Call Spread (aggressive way)
& Bull Put Spread (conservative way)
DXY breakout from resistance. Next target 108. Emerging Markets and Euro Zone/ Japan currency will be in trouble. USDINR may also break 83 levels soon. Once USDINR breaks 83.15 levels, 84 will very soon.
1st BUY 82.02 (30% of your capital)
2nd BUY 81.73 (30% of your capital)
3rd BUY 81.43 (30% of your capital)
A margin call of 10% must be maintained.
Note: Only buying (long FUT or Monthly CALL) is recommended here; no shorting or bearish trend is recommended; almost all events are happened so strong naturals (above > 82.39); do not buy weekly CALL options and...
Please keep in mind that this is only for futures and positional traders.
You can buy USDINR in 3 different buy zones, as mentioned (Buy zone 1, Buy zone 2, Buy zone 3).
There is NO-STOPLOSS; simply purchase as much as you can. Don't panic if it reaches Zone 3; instead, buy as much as possible.
It is important to note that this view is for the next three months...
USDINR moved downwards as expected in previous post...
Now, considering a strong 50 EMA support, we have got Bullish Engulf on it.
Past behavior of USDINR also gives us a reference that whenever we have a bullish pattern at 50 EMA support,
we get an uptrend. ( Right now, trend can be cautious bullish, however, if it crosses All Time High, then we may get a fast...
The chart is self explanatory. It is taking support from the bottom , making a wedge pattern .
This is not an trading idea . Just for education
Happy trading
#USDINR spot pair formed a Rally-Base-Rally pattern on a daily chart. Fundamentals also support the current bull trend.
#Rising Interest rates
#Increase in India's trade deficit.
#Current economic conserns.
USDINR 13 May Expiry view
Looking at Price action, it has shown a clear BO of Inverted Head and Shoulder with good volume.
Next Target can be next resistance or 77.160 if breaks this too then ATH-all time high level 77.416 (round to 77.5)
May Sell 76.5 PE and buy 76.25 PE for hedging ( execute this when you get a dip, view - buy the dips )
Plan Your Trade and...
USDINR multi-timeframe analysis
* On Monthly - last month Price tried to show a downtrend but failed to make a new low and ended up printing Inverted Hammer (Bullish Sign)
* On Weekly - High of previous week hammer taken out (Bullish Sign)
* On Daily - High of neutral candle printed on 13 April 2022 taken out (Bullish Sign)
Reversal Chart pattern - Inverted Head...
USDINR has given a good volume BO candle on Weekly
if it sustains above current level, this BO may give good targets as shown by the wave structure shown on chart.
Buy intraday Dips...
I am holding Bull Call Ratio Spread...
Might also do naked Call Buying with limited risk amount. (amount that I am ready to loose)
USDINR just formed a double bottom pattern which shows that it is not interested in moving beyond 74.15 as a weekly closing basis. USDINR has given a breakout in weekly charts above 75.11 hence it can move towards 76.17.
Below you can see that its RSI moves in band, hence it can move to test RSI upper band.
TF for analysis = 4 hrs.
74.68 a resistance, which has been tested at least four times previously.
With RSI above 50, 14-MA of RSI upward sloping, MACD above 0, DI+ above 30, ADX above 30 & upward sloping;
Took a trade of BO above resistance, with SL of Resistance -ATR. 74.68-0.111 = 74.575.
Target for the trade in the region of 74.90 to 75.
In case of gap...
