As it confirmed our entry and is looking bullish. Because it formed Bullish Flag. Indeed it is a continuation pattern so yes I'm in. RR described in the chart and all other details are also mentioned in the chart. Drop a comment if you come across the chart. Thank you
The USDINR pair is trading inside a 1.5 month Triangle (blue), following the upward break-out of the 1 year Ascending Triangle. The 1D MA50 (blue trend-line) has been supporting for 2 months and as long as it holds, buy when the price breaks above Resistance 1 (83.4200). The target can be 84.500, representing a +2.13% leg extension on a potential emerging Channel...
The swing in 4H time frame is still in the impulse wave of the daily swing.
The impulse of the 4H time frame swing has started(DB neckline breakout level 83.2500)
Caution :: FOMC meeting on 20 Sep'23 11:30PM IST and the current market price is at the weekly resistance of the ascending triangle pattern.
Hello All,
Its time to buy USDINR at this open market price 82.1100 FUTURE and hold , Again hopefully we can see 83+ on deck.
Target price 1 and 2 marked by Arrow.
A USDINR long setup. Using DOW theory and realizing that the chart is making higher highs and higher lows as well as in a major uptrend it seems like the secondary trend should continue. The trade setup is for two buy stops at 1% risk at TP1 and TP2.
The market looks bullish in daily time frame.
The FOMC meeting on 19/20 Sep'23 is expected the pause the interest rate at 5.50%, which keeps the USDINR less volatile. If the interest rate is increased USDINR will be bullish.
There is 3 more trading sessions to decide the direction.
www.federalreserve.gov
www.forexfactory.com
www.nseindia.com
hello traders,
The market is at the verge of the ascending triangle breakout.
The market is bearish today, so adding small positions at every possible dips at the far out of the expiry will be fruitful once the breakout happens and rally starts.
Daily time frame took a support at the weekly support(Ascending triangle pattern).
4H timeframe the market is in range bound. The range bound has broke out, aggressive traders can consider to enter the marker, conservative traders may wait for the re-test and consider the swing.
We love sentimental trade ideas. There is nothing better trade than those stemming purely from sentiments. We shared timely long USDINR pair and we have attached the link below.
The positive sentiments from Moon landing drove INR higher yet on macro level, this changes NOTHING .
Congratulations to India and all Indians!
-Signalwyse Team
The CMP(current market price) is at weekly resistance zone.
Below scenarios can happen:
1. Bear :: If a daily candle closes below 82.5920, advisable not to enter the market as the triangle is about to converge leading to triangle breakout & also the Risk: Reward ratio would be small.
2. Bull :: If a weekly closes above 83.2850, this is a ascending triangle...
Daily is in Bull trend, but at 4H time frame the market is in range bound.
If a 4H candle closes above 83.1575, then bull will be in control.
The risk : reward ratio is 1:2.68 to 1:3.58.
Some traders will buy straight up the pullback
back into the demand/support/break-out retest
area while others will wait for a potential Stop hunt
liquidity search of those traders and buy after that
happens. I always like the idea of waiting for confirmation
on smaller timeframes (1hr/4hr)....
What are you looking for?
Typically the upside breakout of an ascending triangle will travel 1X to 2X in distance equal to the height of the triangle at its widest point. This would imply an advance toward 86 and possibly toward 88. $USD/INR. The best way to play this is with Singapore futures IMO
In weekly the market is in Ascending triangle pattern. where the current market price is at weekly resistance.
In daily time frame there is change in trend(from bull to bear) formed by double top neckline breakout, so the market is expected to fall further till the weekly ascending trend line(support).
After the DT neckline breakout now the market is in retest,...
