Elliot wave Analysis - GBPINRwave 1 started from a significant low marked on chart,
wave 2 retraced to reach 50% level of wave 1 with a simple zig zag correction!!
GBPINR
GBPINR is looking for 81.00 level as support GBPINR is expected to continue bearish for couple of next days
I am looking for next level as 81.00 to see the GBP will resist before going down further
Consolidation before the Down moveGBPINR seems to have finished the corrective structure now and is on its way down. There is a possibility that the pair will consolidate towards the upside before the continuation of the down move. Waiting for a consolidation now...
Complex Correction- Next Leg, down move GBPINR is in a complex corrective structure. The sub waves have been color coded for ease of spotting them. The next move could be a down move to finish the C wave of the current structure in making. On the 1 hour time frame, I guess there's one move down. AS the structure develops, we get a clearer picture.
GBPINR TradesGBPINR Trades using Blue Sky Plus Indicator. Message to get a free trial of the indicator.
GBP/INR : LongPattern is showing to go long with strict stoploss and Risk:Reward seems good in this setup.
Aiming for 100% fib extension, And from there looking for shorting opportunity.
GBP/INR - cypher set upReversal (Long) from around point C would open doors for a possible rise to point D (102)
Multiple cypher patternsHello traders, just a fun trade on one of the lesser common mixes. Good for carry trade. Multiple cypher patterns at play , buying positions could be added right at the structure below
