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Usdinrstrategy

Hi, We have got a situations here. USDINR 4h time frame.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 and still remain bearish, monthly time frame price is pushing up creating a bull pin bar showing it like there's a huge demand. Price toped at bearish channel high reference from high 70.77 May 13. conviction although this is a short term currection on the bull side. Boarder retail traders now turned bullish as well as current news sentiment and Indian equity market is in negative, crude oil current price is 56.32. following Indian market's currection we have to be cautious and that's it. Conclusion. Strategy: Plan A. Sell 69.004 or bellow 68.851. targeting 68.719, 68.497, bonus point 68.341. STOP LOSE 69.138. Plan B. Buy above 69.158 targeting 69.25,69.50. Resistance: 69.053 strong one. resis 69.10, 69.138, 69.15, last 69.20. Support: 68.726, 68.543, 68.447, last 68.341. Thanks!
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by Ilikethehell
USDINR 4hr time frame. upcoming week may seen bullish.USDINR 4hr time frame, upcoming week usdinr may seen bullish. On the daily time frame we can clearly see a bullish engulfing candle closed. on the four hour time frame there can be create a inverse H&S if price gives pullback from 68.79 to 68.44. 4hr time frame rsi is diverging as bullish. daily time frame rsi is oversold and made double bottom. weekly time rsi oversold. friday market PCR seen increase by 70%/40%. also last friday trade talk has been resumed and market expects a negative call from Donald Trump. Resistance 68.62, 68.84, 69. support 68.44, 68.38, 68.31. Strategy: A long entery can be made at 68.47 to 68.44 stop lose 68.26 targeting 68.79 and 69.15. keep in mind bellow 68.31 usdinr is bearish again. Bonus point: when you get a chance to win a trade and it's reaches to 25-50% of your target and you didn't booked any profit from your initial entry point and suddenly price reverses and hitts your stop lose. before you were in little profit but same trade turned into a lose. #From your entry point and between your profit target if you get atleast 25% profit then you should take 25% profit with your 50% position and rest 50% position move stop lose to breakeven now you're in a risk free trade with your remain 50% position. keep trailing when you see more profit. having a profit target is a must but never wait for price to reach your target. I take 50% profit with my 50% position but more safest way is 25% I reccomend. Look this is my kind of style for profit taking if you like it or not I don't mind. Thanks!
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by Ilikethehell
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USDINR Four hour chart seems bullish Bearish flag broken to up.USDINR Four hour chart seems bullish Bearish flag has broken to upside. Sentiments: Crude oil up 46.33 by +0.1%, Brent oil up 54.75/+0.1, Natural gas up by +2.43%, US Dollas index up 95.80/ +0.08%, EURUSD up 1.146/+0.14%, JPYINR up .6312/+0.40%, GBPINR up 89.012/ +0.26%, EURINR up 80.4630/ +0.46%, USDINR up 70.18 /+0.08%. Technical buy signal, bearish flag has broken to upside, Fundamental: Nifty 50 down by 175.50, Bank nifty down 380.70, Sensex down 576.50, India Vix up 15.56. USDINR can reach 71..?
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by Ilikethehell
Darn!! Looks like USDINR will hit 69.50 againDarn!! Looks like USDINR will hit 69.50 again Technical: There's a bearish flag pattern has formed after a dip down from it's crucial support zone at 71.60. Fundamental: Fed rate hike was a big hype and dubious for market speculation. unfortunately Nifty could not able to make it 11k and still struggling at support zone 10850. Crude oil trying to come up after a dip dive people are having fear of over supply - demand. US Dollas Index which people call it safe heaven doing it's things.
UEducation
by Ilikethehell