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Usdinrshort

USDINR - bearish bias USDINR has taken nice resistance of the upper trend line. And selling pressure is building up since morning. Short term trade is to trade till lower line. To some one who wants to play for longer view may add shorts at each peak done like today. Once it starts trending lower trendline, down rally may start after a retest. Smart think to do will be add after first breakown below lower trendline retest. This will test a lot of patience. User Discretion - any drastic news from Gov may drive prices crazy
Short
by TradeStrikes
USDINR View Buying Option OpportunityUSDINR as expected moving in a neutral to short range as per our expiry view posted previously.... Now that we are watching a Sandwich pattern formed on 4Hourly timeframe, if it breaks down then there is a flag breakdown also with a breakdown of 50 EMA this confluence may trigger an excellent Option buying opportunity. For buying, use next week's option or monthly option of ATM or ITM strike. Target : till 200 EMA or POLE target. Plan your Trade ! Trade your Plan ! These ideas are shared for trader community to improve conviction and employing different execution strategies on their individual views if they match our view.
UShort
by NeelamN
USDINR Next week view 18 March ExpiryUSDINR on Weekly Time frame has reached channel resistance marked in Blue parallel line at this channel resistance, on daily timeframe it has shown us a hanging man (hammer) type candle , the low of this candle is also taken down by the big bearish candle. Now this all has happened at the previous resistance level and this bearish engulf (hammer + big bearish candle) has taken down low of the bullish breakout candle too confirming fake breakout. Now, as per this price action any bounce is a Sell with Stop loss high of the hammer candle (77.150) We can also see Bearish Divergence with RSI. View : Neutral to Short with target 75.5 Counter view : if the high of the hammer is broken out, then bullish momentum continues, hence, continuing the view given in my previous post. Please check out. Strategy that can be applied : Bear Call Spread - Buy 77.25 CE Sell 77 CE (Buy OTM Sell ATM/ITM) OR Call Ratio Back Spread Buy twice of the lots of 76.5 PE and Sell 76.75 PE (Sell one lot of ITM, Buy two lots of OTM) Few things to know about this spread are below :- * Unlimited profit if the market goes down * Limited profit if market goes up * Predefined loss if the market stays within a range
U
by NeelamN
4
USDINR: Breakout or Breakdown?On the weekly USDINR chart, there is a symmetrical triangle kind of a formation. It has taken about 20 months to form on the chart. This pattern could break on either side. My bias would be on the long side because the overall trend on the weekly and the monthly chart looks definitely bullish. But I would be open to re evaluate the scenario if it breaks the pattern and the trendlines to the down side. Possible upside long term target: 81 Possible downside long term target: 67 Wait for the breakout and retest on either side, then trade on smaller timeframes. _______________________________________________________________________________________________________________________________ Manage risk properly and trade your plan. Like and follow for more. :)
ULong
by Tradeception_
USDINR View 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. Range 74.5 - 74.25 Scenario 3 : It may achieve T1 and do a false breakdown of the inclined trend line (& 50 EMA) and again bounce back up. Look for bullish candle patterns here.
UShort
by NeelamN