Hi everyone! USD/INR pair long was in one range, thereby a narisova a triangle. Now the price drew already 2/3 triangles. Therefore it is possible to expect it breakdown in the nearest future. I expect breakdown of a triangle down. Now the price is close to the upper bound of a triangle therefore the entrance to the transaction is safe. Stop loss can be delivered above a triangle, that is on breakdown up. I consider that the price as a result all the same will achieve the designated objectives (even at breakdown up and leaving up to 88). Technical indicators nap week and monthly schedules showed a turn long ago. So, I sold at the current price 82.53 with the purposes: TP1 = 80.91 TP2 = 79.05
Information provided is only educational and should not be used to take action in the market.
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On weekly chart
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Long ago did not look at the schedule of USD/INR. The idea remains in force. Proceeding from the current schedule, I remove TP2. There is only TP1 (80.91). Many indicators show divergence in the week and monthly graph. The idea is active.
As per your chart dates 06Dec23 looks like 80.91 target will be reached by Sep'24 in 9 months?
Yuriy_Kuznetsov
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@iambabgalley, hello, in my schedule there is no binding to dates. Define time spans quite difficult therefore on the chart it is necessary to watch only price levels.