Don't get to biased. Trade what you SEE not what you THINK.
As John Maynard Keynes said, “The market can stay irrational longer than you can stay solvent.”
According to my Elliott Wave count of USDINR, if I am correct ( being skeptical as EW count can be subjective, although all rules have been followed ) we are in minor wave A - of the Intermediate wave (3) - of the Primary wave 3 - of the Cycle wave V.
A Bulling engulfing formed on a Weekly chart suggests we have completed minor wave A , which is also a Fibonacci...