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
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
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.
Daily Swing | 4H descending triangleCMP is at weekly ascending trendline.
Daily there is a bull swing, and 4H a descending triangle pattern(market retest in 4H).
If a 4H candle closes above 105.6653 can go for buy. The SL & target level are discussed in the video.
Small swing tradeThere is a swing in Daily time frame. The swing is already in move, but not to worry.
There is a ample opportunity to trad within the Daily's Resistance and support explained in the video.
Once the 4H candle closes above the 106.2834 level, look for the swing or patterns in the any lower time frame
GPBINR Update-4 Y-->H-A complete up to date analysis of GBPINRIts a long time since my last analysis being documented publicly and so an end to end analysis should refresh the memory of what's going on with this pair. Let's start with super long time frame-the yearly time frame and drill down into lower time frames. Year-->Month-->Day-->Hour shall be the appro
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 Indi
GBPINR Update-3Price action after a long bullish run had taken a pause, and the pause seems to be over.
Interpretation 1:
As there were 3 complete waves formed in the bullish trend and the recent motive wave was slower than the earlier motive wave which might indicate that the formation could be an ABC. Recent
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.
GBPINR Update-2
This weekly chart shows that the encircled price action displays bullishness where the shaded area was an intermittent bearish move. This bearish move divides the bullish move into 2 waves as shown below
The daily chart can be interpreted as
Option 1
Option 2
The common area of time an
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Displays a symbol's price movements over previous years to identify recurring trends.