From previous update-are we ready for another upside movement- I was very clear that once pair starts moving above 111.35- we can go long for targets atleast 111.85—111.95 & Above 112- we can look out for target zone 112.60—112.75.
What has happened since 10-12 Hrs , UJ never crossed 111.35-infact it went very close to 111.33 & reversed so we could have traded that swing as well for going shorts & making some pips at previous support zone—110.80 to 110.90—which was tested again. So, this is the importance of specific ruin points which can be turned into profitable trades once detected. In this setup-ruin point is 111.35.
Last Price- 111.05
Let us go long once 111.35 is crossed for target zone as mentioned above.
Abhishek H. Singh, CMT
India Regional Manager
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ