Multi-Timeframe Elliott Wave Map for USDINR

May 18

Hello friends, Welcome to RK_Chaarts,

Today we’re trying to explain & analyze the USDINR currency pair from an Elliott Wave perspective for Educational purpose only.

On the quarterly timeframe, at the Cycle degree, the red Wave III (red) appears to be nearing completion. After this, we can expect a red Wave IV (red) meaning a small to moderate downfall may follow. What we’re seeing now is likely the final leg of that IIIrd wave. Within this Cycle Wave III, on the monthly timeframe at the Primary degree, we have five clear subdivisions labeled in black. We can clearly see that black ((1)), ((2)), ((3)), and ((4)) are complete, and ((5)) (black) is now also nearing completion. Within that ((5))th wave, on the weekly timeframe at the Intermediate degree, we’ve drawn five subdivisions in blue brackets. On the weekly chart, it’s quite clear that within Wave ((5)), waves (1) and (2) are complete, and Wave (3) is nearing completion. After that, we may see a Wave (4), followed by Wave (5), and only then will the higher degree wave finish.

Similarly, within that Intermediate Wave (3) (blue), the subdivisions at the Minor degree (red) 1, 2, 3, 4, 5 are expected. On the daily timeframe chart on the right, we can clearly see that red 1, 2, 3, and 4 are complete, and red 5 is also nearing completion.

Going to an even lower timeframe, within that 5th wave, waves ((i)), ((ii)), ((iii)), and ((iv)) are complete, and wave ((v)) Minute degree (black) is also nearing completion. If we check smaller timeframes, we’ll likely see bearish divergences forming as well. So this entire wave labeling is drawn in alignment with Elliott Wave principles and rules. As we know, Elliott Wave patterns are repetitive in nature and the market tends to follow them. Let’s see if that plays out here. We’ll watch how the market unfolds from this point. This analysis is based purely on Elliott Wave theory, structure, wave counts, rules, and principles. I’ve shared a dual-timeframe snapshot with you all here. I hope this explanation helps you understand it better for educational or study purposes.

I am not Sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.

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Hope this post is helpful to community
Thanks
RK💕

Disclaimer and Risk Warning.

The analysis and discussion provided on in.tradingview.com/u/RK_Chaarts/ is intended for educational purposes only and should not be relied upon for trading decisions. RK_Chaarts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Chaarts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.

Jun 4

Note

Here is current possibility of wave counts on Daily time frame

Jul 1

Note

Here is an updated chart, as we can see that USDINR study is going as expected.