INRUSD trade ideas
USDINR: Long positionEntry point: 72.85
Short term target: 73.35
Mid term target(1): 73.55
Mid term target(2): 73.95
S.L.: 72.8
USDINR_BULLS ARE COMING IN!A very interesting pattern is formed in USDINR. H&S and also a double bottom.
waiting for pair to provide additional information so as to enter in this trade.
Still pair looks bullish, as it respecting weekly TL.
Only to enter if it closes above last swing high or low.
Whether it is a double zigzag/motive wave it ends >72.2950The current corrective wave might be at wave 5 of motive wave A as shown below
OR
At wave C in Wave Y of a double zigzag as shown below
Whatever might be the count, it's end might be at 72.65 - 72.5
In either of the cases (whether wave C in Y or wave 5), if predicted correctly as an ending diagonal, this wave should end by 05 or 06 Feb/2021 but at not less than 72.2950. If the price crosses below 72.2950 then this wave count should be relooked.
Comments are welcome to answer whether this complete correction wave is a double zigzag or a motive wave A !!.
USDINR something is cooking on charts 72 -75.50 is range month charts are showing price is coming close to long term trend line . a big movement is expected on any side for shorts below 72 sl 75.50 and buy above 75.5 sl 72 .
USD INR heading to 68.5USD INR has broken long term support for daily,weekly and Monthly long trend line and heading towards long term support at 68.5
USDINR: Headed to 75.5Wave A & B are done, wave C is overdue now. At the least C should be equal to A, providing for a ball park goal / target of 75.5.
Rupee getting weaker has seldom coincided with Nifty keeping going higher. Most of the time Stockmarket goes down whenver the value of Rupee goes down. It happened during September-October '20 also within this madenning equity "rally"
Caveat: Do never overstretch intermarket relationships. The Delta of change in the value of Nifty to Change in USDINR is not constant either. This is a broad relationship.
Hear out the entire video recroding for further caveats and how am I using this chart. This chart prevents me to be an equities bull in abandon. Not yet short on equities, yet not willing to expand exposure on the long side on equities. Once the USDINR chart starts producing the C wave and the uptrend line on Nifty breaks thats when one will trade on the short side on equities.
ridethepig | India marking a major highA flawless call in Nifty (Indian Equities) from the highs before Covid to the lows and back up in the opposing direction. We should all have made a killing on India, the pseudo-classical school always considers technical analysis as inferior, however this is not the case.
As a main theme, INR buyers now choose to load for 68-66 which is the new base for 2021. The decade ahead looks positive for India and they will start playing a considerably louder position in geo-politics for the coming years. We are talking about a -8% devaluation from current levels. You can ask, what about pips? Well... pips are for pipsqueak's ... this is macro trading, rather than struggling daily this judgement carries strength in the MT and LT and ought to sound something like "watching paint dry". That is the real truth which my models have discovered about this leg lower in USDINR.
You will find further considerations of the Indian macro picture in the end of year wrap up and the 2021 maps coming in the following weeks.
Thanks as usual for keeping the feedback coming 👍 or 👎
USD/INR currency trade setup.USD INR analysis for upcoming long view.
Please comment what are your views along with your analysis.
lets have a good discussion
Wave B of Wave 4 expects support at and around 74.0Wave 4 is expected to be either a running flat or a with a truncated wave C.
There is high probability that wave C of wave 4 (regular flat) to be truncated to fit itself into the parallel channel however that is for future.
Right now wave B in wave 4 is in progress which is expected to be supported at and around 74.0 targeting long to 74.9
Its wave 4 until it breaks below the parallel channelIts wave 4 until it breaks below the parallel channel but the wave 4 corrective pattern is unclear at present can be made out by the week ending 20/11/2020.
USDINR: GREAT LONG OPPORTUNITY Making double bottoms on 1H and 1D chart.
LTP: 73.87, if breaks and holds 73.9:
Short term target: 74.3
Mid term target: 75
S.L.: 73.5
Triangle / ?If the price reverses down without crossing above 74.0 then it confirms formation of a triangle pattern.
Based on completion of pattern, trade setup shall be planned.
USDINR VIEWShort triggered at 73.4500
view invalid, candle closing above 73.4850
stop loss 73.5000
target 73.2000
position holders
long above 73.5000
stop loss 73.3000
Overall bullish until 72.7500 breached
Wave C targeting 72.5USDINR had initiated a major correction after completion of 5th impulsive wave which was a diagonal.
Recent correction is now forming a C wave which is targeting 72.5 which might end the formation of Wave W in a complex correction.
The current Wave C is expected to end at around 12 to 20 Oct 2020.
And the chart is self explanatory.
Indian rupee vs dollar After decades old bull markets. The great indian growth miracle is going to increase demand of currency as biggest company of the world are coming to india.
USD gaining strengthen against INR -poised for Rally 2.0 USD is consolidating and looking to gain strength again. This time it might go and hit 80. Buy on dips with the support level given in the chart !!
USDINR.....Stuck in rangeChannel marked in Blue.....
Resistances in Red.....
Support in Green..........
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