Hi everyone! I love your support! I am Bearish on EURINR based on patterns on the daily and weekly chart. There is a European central bank rate decision in a few days which will decide the direction of the trade and bring volatility into the market. Important zones of support at 73.70 have been broken and a retest of that level can be expected before price moves...
These are continuation trend pattern that are found frequently in the markets. I wanted to cover it and share it with you as I found some good charts during my research that are forming such patterns. One of them is Aban 2.41% offshore, chart link attested below. (I have also provided some examples given in comments box below for your references and goodself.)...
This is the third education series on Channel (link of Educational 01 and Educational 02 given below), In this educational post, I cover up points that provide trades opportunity in a trending channel. Steps To Follow: Step 1: Connect Two Higher High Points to Draw a Trendline Step 2: Connect Higher Lows points, take a buy call Step 3: Buy at pullback with...
This is the second education series on Channel (link of Education 01 given below), In this educational post, I cover up points that validate a Channel and benefits of drawing a right channel. Validation points are as follows: Point 1: Two Parallel lines Point 2: Higher High and Higher Lows in Uptrend and Vice-versa. Point 3: Two compulsory touch points in...
This is my first educational posting series on "Channels". In this educational series, I would cover five important points while dealing with channels, as given below: 1. How to identify trend with channels? 2. What is the right way to draw channels? 3. How to use Channels to find trades? 4. How to validate channel trades and manage risk? 5. Multi-time...
Breakout downside will trigger the fall.
EURINR Short Next Support at 73.2 level 38% fib level
EUR/INR creeps up to reach 6-week's highs of 75.6770 levels after testing supports at 7DMA but could not manage to hold onto the day highs of 75.7820 as it reaches upper Bollinger band. Current prices are well above 7 & 21DMA that indicates uptrend seems to be continued. So, go long along with upper Bollinger band at supports near 7DMA. While, daily RSI and...