Update 4-JPY/INR
Price action had given some clarity now.
Chart 1: Shows the first option, where the price is now expecting to hit 0.64500 by 19/02/2022 to 25/02/2022.
Chart 2: Shows the second option, where the price can form a B variant of C elongated triangle followed by wave C. However the targets remain the same.
Trade setup:
Trade position: Short
Entry area: Upon break below 0.65432
Stop loss: 0.65800
Target 1: 0.64740
Target 1 period: 19/02/2022 to 25/02/2022
Target 2: 0.64550
Target 2 period: 19/02/2022 to 25/02/2022 (option 1). Period for option 2 to be arrived based on price action if predicted as in chart 2.
Keep watching this space for further updates on trading and managing the trade.
To understand the concepts behind my analysis please checkout the linked idea. Happy trading :)
Chart 1: Shows the first option, where the price is now expecting to hit 0.64500 by 19/02/2022 to 25/02/2022.
Chart 2: Shows the second option, where the price can form a B variant of C elongated triangle followed by wave C. However the targets remain the same.
Trade setup:
Trade position: Short
Entry area: Upon break below 0.65432
Stop loss: 0.65800
Target 1: 0.64740
Target 1 period: 19/02/2022 to 25/02/2022
Target 2: 0.64550
Target 2 period: 19/02/2022 to 25/02/2022 (option 1). Period for option 2 to be arrived based on price action if predicted as in chart 2.
Keep watching this space for further updates on trading and managing the trade.
To understand the concepts behind my analysis please checkout the linked idea. Happy trading :)
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