Hari-Ram-Kumar

Hari-Ram-Kumar

In continuation to the linked idea titled as "Update 1-JPY/INR", this post explains what's going on in wave E. In the above chart there are 2 shaded areas in wave E indicated inside bold black bordered box. Blue shaded area is the price action to the upside and the orange one is to the downside. If the price action in the orange shaded area breaks below the blue...

Hari-Ram-Kumar

I have entered long on 08/10/2021 10:02 in contrary to the idea "Update 4-EUR/INR". Here I shall explain the reason for entering the trade and what is expected next. Firstly the reason for taking long trade in contrary to the idea "Update 4-EUR/INR" is explained below: Black bold box indicates the price band and period equivalent to wave C of wave Z and the...

Hari-Ram-Kumar

Formation of Wave Z was confirmed by price action with its break below the wave X on 27/09/2021 13:30 as expected and shared in Update 3-EUR/INR (view linked idea), however Wave Z was not an ending diagonal nor a triangle as expected in Update 3-EUR/INR but it was a flat. In the above chart, Wave W, Y and Z form the motive waves and wave X(s) form correction...

Hari-Ram-Kumar

As expected in Update 2-EUR/INR , Wave X was formed and it has not resolved itself to a regular flat. The C wave of flat in this Wave X was retraced more than 78% which validates completion of wave C and thereby completion of Wave X. In addition this Wave X had not retraced more than 68% of previous wave Y, hence this is a correction to Wave Y and not to the...

Hari-Ram-Kumar

As expected on 16/09/2021, wave X (in blue box) was formed and failed to have upward momentum. Wave X was followed by a zigzag the downside (now labelled Y in red). Wave which was labelled as Y on 16/09/2021 had resolved it self as wave W. This WXY wave formation together formed a double zigzag and finally forming the major wave Y. Refer the idea Update...

Hari-Ram-Kumar

This pair is now forming a triangle after a down trend. At present Wave E is taking its shape. Wait until the Wave E to complete which is expected around 0.6800. A downside target of around 0.62000 is expected upon break below 0.66147 Watch this series for further updates and for early entry. Please refer the linked idea to know the concepts I used to find these...

Hari-Ram-Kumar

I have planned to start a series of regular updates for EURINR and hence started to label the ideas in a serially. This idea is starts the series as Update 1-EUR/INR. Now lets get into the subject. Refer the linked idea on how momentum helps in identifying waves. This chart shows how the momentum had its critical role in identification of waves. Red boxes are...

Hari-Ram-Kumar

I am writing this idea to document my learnings in wave analysis. Your thoughts and comments on this document are welcomed for discussion. Identification of waves and wave patterns is critical in wave analysis. I have seen that MOMENTUM is a key indicator in wave analysis. There are four main concepts I use in my analysis: 1. Trend – It is defined as the...

Hari-Ram-Kumar

If price moves below the green box (X or 4) within the period of this box then this is trend reversal to the downside or it is correction to the adjacent long wave in the green box labelled as wave W or 1,2,3. Its time to keep patience!!!.

Hari-Ram-Kumar

Price is under correction upon completion of a 5 wave downward move. Price is expected to follow the blue path to the downside upon breaking below the correction channel. Target: 85:50 - 85.40

Hari-Ram-Kumar

If price breaks below the yellow box (87.0325) within the period of yellow box (before 28/08/2021 2:30 UTC+5:30) then it is continuation to downtrend (blue path) or it is continuation to the upward correction (black path). However the entry is short for now Stop loss 87.4256 Target: 85.86 Wait until target or stop loss is hit.

Hari-Ram-Kumar

Its in continuation to the linked, wave 3 is over and wave 4 is going on. Look out for bearish candlestick patterns in at least 4H chart to spot the end of wave 4 and to enter short in wave 5. Wave 5 shall target 100.75 to end the whole correction.

Hari-Ram-Kumar

It's wave 3 or C Based on existing momentum to the sell side, it is expected to be a 5 wave move. Minor wave 3 in Major wave (3 or C) within the box is expected to end at 100.53. Short positions can be expected at 101.5526 where wave 4 is expected to end. Wave 5 shall target 100.53 and 99.90. Self confirm for completion of wave 4 at 101.5526. As wave 2 was a...

Hari-Ram-Kumar Updated 

Short upon 4H close below 102.14 Stop loss: 103.44 Target: 100.0

Hari-Ram-Kumar

Monthly chart indicates that wave 5 is in going on. Wave 5 is expected to be a 5 wave move out of which wave 1 and 2 are over. Wave 3 is in progress. Major support and resistance zone as indicated in chart. Weekly chart indicates wave 1 in 5 is a 3 wave move (indicated by ABC) and accordingly wave 3 in 5 is also expected to be a 3 wave move Wave 2 is a zigzag...

Hari-Ram-Kumar

Weekly chart: Weekly chart implies that wave 3 of a 3 wave move is in progress. Wave 1 and Wave 3 of 3 wave move are highlighted in boxes. Wave 1 of 3 in purple box have an internal 3 wave movement and accordingly, wave 3 of 3 in blue box is also expected to have 3 wave movement. Daily chart: Analysis of Wave 3 of 3 in blue box Wave A has an internal 5 wave...

Hari-Ram-Kumar

After a 5 wave move down, USDINR should now correct itself between 71.5 to 74.75 A triangle pattern is spotted and accordingly the trade setup is to short with targets as 72.2, 71.75 and 71.5 as possible reversal points to the upside

Hari-Ram-Kumar

The pair is under zigzag correction. Trade setup is shown below