Dollar Bulls could return back in the polarity reversal zone of 67.15-67.41 which was an earlier resistance zone- if that zone holds & gives an impression of bouncing - likely it travels beyond recent high 69.05. This zone of 67.41-67.15 had multiple resistances & troubled USDINR to move up in the last few months as it has been taken out convincingly that zone...
USD-INR Currency pair is headed to 68.8 Break and Close above 68.9 Will take to 70.2 We have seen already a triangle pattern breakout if it is not proven false breakout we have some resistance around 68.8 zone, Once we close above the zone it will move upto 70.2
Click on the chart USDINR@22nd May2016- Impatient About Acche Din I chose this headline for my report on 22nd May2016 because every Indian since they voted BJP to power in 2014- had high expectations from the running government & everyone was desperate to see better results, but why we forget the devastated state of the economy which was to be restored to...
It is another variation to the Gartley and Bat pattern and it is recommended to read them before reading it. (Attested below Gartley and Bat Pattern) The main rules of the Bullish and Bearish Butterfly patterns are as follows: Butterfly Rules: AB can retrace up to 78.6% of the XA leg BC can retrace between 38.2% – 88.6% of AB CD can be an extension of 1.618% –...
Though the U.S elections caused a huge momentum and fear among traders it soon recovered from the event. Now it formed a pin bar(almost) on friday and it clearly shows the Indian market is trying to recover as soon a possible. Let's see how it goes.
Last Price@67.42 As expected & suggested that we will get an important clue for Index Nifty if Dollar Rupee Starts moving above 67.15. In an unexpected move from Income Tax Department, which has carried out raids across various cities in India could likely shock the market, but I was clear that if 66.20 is on hold which shall decide market moves next. Here we...
It's a complex correction W-X-Y (Where Y is taking the form of a triangle) in Dollar Rupee- likely giving us 2 clues -which I have my eyes set on. Either it breaks 66.20- Key level & 65.95 critical levels on a daily closing basis, then I will really think that Indian Markets are bullish. Else If dollar rupee breaks on the upside, above 67.15 -then likely...
The Harmonic Bat is a variation to the Gartley pattern which was developed by Scott Carney. It is considered to be one of the more accurate patterns exhibiting a higher success rate than any other harmonic patterns. The bat pattern might look similar to a Gartley 222 Butterfly pattern but differs only minutely in terms of the Fibonacci ratios between the...
$ looks strong against basket of currencies but rupee seems resilient i am looking to buy near that trend line support.
It is the second most important trading pattern in Harmonic Pattern series , called Gartley Pattern which is also frequently observed in markets. This post a second post of educational series related to Harmonic Patterns, In this post, I cover the following things regarding the pattern 1. Pattern Traits 2. Step by Step formation of the Pattern 3. Bullish Gartley...
In this Educational post, I will be sharing the most basic and simple harmonic pattern: AB=CD Pattern 1. Formation of the Pattern 2. What to look in the pattern 3. Targets 4. Stoploss 5. Risk This is a new series of Harmonic Patterns, where I shall be discussing about the below patterns: 1. AB=CD Pattern 2. Gartley Pattern 3. Cypher Pattern 4. Bat Pattern 5....
Reason : Pair to leave its present narrow range to re-test its previous highs as a part of continuation of uptrend. Timeframe : By early November 2016.
Its almost 5 months & Dollar Rupee has been moving in the range of 217 pips from lows@66.05 in April2016 to 68.22- High kissed on Brexit Day-24th June2016. There are probably two patterns which could pan out in coming days. Scenario-1: USDINR making higher lows from 66.05 - Next 66.62 - Latest 66.77- which indicates that dollar accumulation is going on & once...
USDINR broke its Longterm Uptrending Line, a few Weeks Back. Also as can be seen, its setting up for multiple level of breakdown from Head and Shoulder Pattern. BUT it needs more downward price action for Confirmation.
The price action is been range bound in this pair for a while and now I'm looking forward for a big breakout in it. I would appreciate if anyone could share their opinion on it or post something related to it. Regards
Here we have potential ABCD completion around 66.1's in USDINR but it will happen only after the support at 66.5's takenout. As of now I expect USDINR will move little up to 66.85's before starting its downward move. Incase the resistance is taken out, we need to decide based on what happens after that. Hit Like button to keep me motivated to post more...