Likely a short term top is in firstname.lastname@example.org- I am keenly watching for that lucrative sell setup where UJ looks to move initially to 111.15-111.35 zone where it could find next support or profit booking going below 112 or shall be looking to sell on a bounce in the 112.40-112.50 zone which is 61.8% pullback of the current fall from 113.20 to 111.35
Strict Stops@ 113.35
Short Term Divergence at email@example.com
Previous Analysis- Got in the bulls shoes at 110.85
AUDUSD is moving in the desired direction from 0.7365
Suggested that we will look for selling in 112.40-112.50 zone - UJ has stretched a little bit upside so taking sell is risky & if it starts moving above 113.30 swing high -it will try to go close to previous firstname.lastname@example.org or even higher.
So avoid any sell in current scenario & we shall wait- keeping in mind that the bulls are still active
113.35 -Strict Stoploss should work wonders - UJ just went close by to 113.13-just now only 17-20 pips away- likely falls if goes below 112.79 & sustains or falls below the rising blue trendline.
The magic of 113.35 - UJ takes U-turn with just 1 pip remaining on the top - downside just bounced from 112.79- magical levels likely some bounce & fall below 112.79 will continue the fall for UJ
Abhishek H. Singh, CMT
India Regional Manager
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ