Highly probable uptrend on 1h Also we have small divergence on MACD 1h and standart divergence on 4h
This is the chart based on official exchange data though it's quite clean without choppy tales. It is an update. I added alternative count in yellow, which implies longer wave 5. The white trendlines isolate the current move successfully so watch their integrity closely. Happy New Year!
In this chart, you can see the correlation between BRENT OIL and USDRUB. When you open long position for long period for USDTRY you can open USDRUB short. USDRUB short will pay your swap cost when you get some profit from USDTRY.
If this idea will deliver then it supports the idea of USDRUB rise. The rub will not benefit much from rising oil as oil would rise against the rub also.
My previous idea showed the strength of the RUB. I watched it closely and the very tight range and a lot of see-saw moves on USDRUB daily chart changed my mind. I think we are not going to go much lower. I would quit short and book profit. Updated view shows the corrective structure upside with the large C pending. Target for C highlighted in a white rectangle...
Upside view remained, I changed labeling as the horizontal structure of the finishing wave makes me think of an ending diagonal in position of wave (c) of wave A. The wave B can hit up to (and even beyond) 100% of wave A. I put 3 arrows upside and 3 arrows downside to show the potential price action levels.
Looks like USDRUB is in a larger corrective move. Therefore another drop is pending. C=A = 41.75
It ends the process head shoulders, and oil drop, oh yeah, and who may be interesting to put the growth of USD / RUB
If you're not in, you can reenter shorts here, on this pullback. The target is illustrative, if we break lower, we could confirm a larger weekly time at mode downtrend. Good luck, Ivan Labrie.
Interesting setup in the Ruble here. You may short at market, or on retracement. Stop above 64 is reasonable, you can alternatively use a stop above 66. Good luck! Ivan Labrie. PS: The swap from holding this offsets part of the nasty swap you get charged with for holding USOIL longs.