GBPINR : Strong bullish charts
The pair is trading in a strong trend
the overall trend suggest a likley breakout to take place and led it towards 106.30 and 106.90 mark as long as 104.50-104.40 holds on the lower side
GBPINR
Inverted H&S | Descending TriangleFor a daily swing trend,
At 4H time frame there was a breakout for inverted H&S & descending triangle pattern.
From the CMP the target till the daily resistance, the SL considering the Inverted H&S or Daily support the risk : reward ratio are 1:44 and 1:25 are respectively.
Both the risk : reward ratios are good.
If my description is confusion please watch the video. haha :-)
Double bottom necklineAt a daily timeframe there is double bottom neckline pattern.
if the neckline breaks, the bull in the market will get stronger.
The daily and weekly support looks strong.
Disclaimer : The CMP is at the monthly strong resistance so trade with tight SL.
GBP/INR on Monthly chartPound to face a good resistance from 102 to 105.
We can expect fall till 80 in form of wave C.
Invalidation level is 105.2956.
Stay safe and trade safe.
Note: The above is strictly my view and not a trade recommendation. Consult your financial advisor before making any trade.
***Ignore the Indiavix and Yield parameters below the chart.***
NSE Forex Trading: GBPINR Vs EURINRQuick and safe profitable trading opportunities in currency trading in India via Hedge approach by simultaneous selling one currency pair and buying of another currency pair and vice-versa.
GBP INR Short Term Reversal Trade Pair has been in an uptrend and might breakout in the upper direction. It has reached the lower trendline and looks to take support and undergo a reversal rally.
Risk Reward Ratio - 1:1
SL is placed below previous swing low, 200 EMA, lower trendline and multiple support zones.
Pound INR Short Term Reversal Trade
Entry - 102.4
Target 1 - 103.765
Target 2 - 105
SL 1 - 101
SL 2 - 99.8044
Risk Reward Ratio - 1:1
The Pair has reached the lower trend line and looks for a reversal in the short term, The target is place around the near term resistance. The SL is place around near the recent swing low and 200 ema.
GBPINR_FLAG SPOTTED!Flag or Ascending triangle spotted.
Price has tested multiple times upper boundary of Ascending triangle pattern.
Price looks bullish if it closes confirmed above upper horizontal boundary.
GBPINR - Strong resistance puts it in downward trendGBPINR rose to some of the highest levels recently. But the area it reached is a region where 2 resistance lines reside near to each other. Because of this, it hasn't been able to break that level and seems like it will now fall down. But, the fall shall stop around the levels of 98.00 because of a strong support region.
I am bearish on this pair for next few sessions.
GBP/INR is heavy for an obvious correction The pair is showing a price resistance compared to its previous high. If it sustains there will be some profit booking. We could play a short term short or wait for a nice entry at the dip.
GBPINR - Heading fast towards a Support levelGBPINR didn't bounceback and instead breached the support level to drop further. It is fast approaching another Critical Support level of 93.
I expect it to continue falling back till that level before we see a change in direction.
GBPINR - Probably time for a pullbackIn my previous update on GBPINR, I informed that it was at a critical level and may decide the next big movement.
It reached the bottom of the support area and we see a strong bullish candle coming up. This could mean it's time for it to move back towards higher levels again.
For those requiring a confirmation, may wait for a green candle again before going long.
Bearish Crab - GBPINR - Daily TF.Hello,
Pattern : Bearish Crab
Stock : FX_IDC:GBPINR
Time Frame : Daily
Note : This chart is only for study and reference purpose.
GBPINR - Within range since last many daysGBPINR has been moving within a range since last many days.
Personally, I would plan to open a position when it breaks either of the edge of this channel. Additionally, it looks like there are more chance of it moving towards downside seeing the EMA-20 line.
minor wave 5 of Wave 5 - GBPINRIn subwave 1 of 5 th wave ,
subwave 1 was a leading diagonal,
subwave 3 reached 100 % distance of subwave 1,
subwave 2 was a simple correction , followed by subwave 4 being a complex sideways correction which was also deep than wave 2 showing alternation,
subwave 3 was normal wave meaning being less than 161.8% of wave 1,hence subwave 5 was extended,
subwave 5 of wave 5 ended between 200 to 223.6 % fib projection of wave 1-3 's distance making it extended.
Elliot wave analysis GBPINRwave 4 was a flat correction respecting elliot's theory of alternation as wave 2previously was a simple zigzag,
wave b ended after retracing between 78.6 to 100 % of wave a,
wave c ended very near the wave a low.
wave 4 retraced to 38.2% of wave 3's length from bottom of wave 3!
WAVE 3 - GBPINRWAVE 3 REACHED fib extension of 138.2% OF WAVE 1 AS SHOWN ON Daily chart
wave 4 retraced 38.2% of wave 3.
