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...
Closed above Monthly Bearish Level....
We can see 73.8899 soon that's the monthly Bullish level...
Only above monthly bullish level...74.09-74.05 level soon....
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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...
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....
USD INR has been respecting Harmonic Trading Patterns at every stage. Will it oblige this time too? If yes then if 73.25 holds 74.50 (falling trend line) could be retested.
Note: This is for educational purpose only.
There seems to be a bullish hammer at support with rise in volume. Moreover, there seems to be a bullish RSI divergence.
Note: This is for educational purpose only.
There seems to be a bearish breakout in USDINR with ultra high volume. However, RSI is below 30 which indicates oversold. Don't aggressively short this pair. There is a possibility of some bounce back before the next down fall.
USDINR is moving in a wedge.
Longs can be added on closing basis after break of upper line.
SHORTS can be added on closing basis after break of lower line.
Not advisable to take positions on inside the wedge.
Will update more on any significant moves.
Date: 10/09/2019
This is the 3H chart.
Your positions are your own sound decisions. I am not responsible...
Hi, we saw USDINR's 2018 move from 68.31 to 74.48 and now we are on the same phase of market cycle from 1 august to october 10. 2018. I'm expecting same market cycle in 2019 along with other three INR pairs EURINR, GBPINR, and JPYINR. do your maths.
I'll keep updating when I see new opportunity. Thanks!
Be neutral. empty your brain. learn and unlearn. abandoned...
Discretion!! I am only 35% of the time right in my analysis and 65% wrong. I still make money but I can't gaurantee yours money management and position sizing is really matters if you don't know how educate yourself.
Reasons for shorting: We got a bearish divergence at 4h time frame, daily trend is still remain bearish, weekly time frame price gave a currection...
