In this Educational post, I will be sharing the most basic and simple harmonic pattern: AB=CD Pattern 1. Formation of the Pattern 2. What to look in the pattern 3. Targets This is a new series of Harmonic Patterns , where I shall be discussing about the below patterns: 1. AB=CD Pattern 2. Gartley Pattern 3. Cypher Pattern 4. Bat Pattern 5. Butterfly...
shortterm view: trading below 66.3 could accelerate the started downtrend-dynamic. TP1 would be 65.85 / 65 Big Picture:
USDINR could possibly be starting wave 3 of 3 of 3 of C down. This could correspond to the sharpest rise in Nifty i.e. a long awaited wave 3 rise.
Pattern appears to be corrective preceding a full-length impulse structure, hence marking an ABC pattern waiting for completion of Wave C
In the light of better US jobs data, simultaneos dovish fed policy in near term plus the positive sentiment in the Indian economy owning to better monsoon, 7th pay commission, possible GST Bill passing has led to a bullish INR as also seen from the charts. For USDINR, resistance levels are 67.35, 67.50 & 68.00 while support levels are 66.50, 66.00 & 65.70 One...
As per the charts, Indian Rupee strong after the breakout from up trending channel with a long candlestick. This gives a indication. It may be because of GST forecast or may be something loosing up in US economy. We have to see with the time. Now, it is confirmed that this may reach to 66 levels again. Stoploss to be maintained at 67.8450
Weekly closing indicates USDINR may tank till 64.80 by August End..
a move towards arnd 66.52 will complete neckline of outer (and more realistic) H&S...so from CMP risky Short call. If it does reach 66.52 then a definite Long from 66.52 towards 67.80 Immediate resistance seen at 67.44
USDINR would fall from current levels and probably make new loves below 66 levels.. Overall Rupee made a 5 wave down move from the top of 69 levels after which gave a 3 wave a-b-c correction with in the trend channel and is now ready for further down move. Happy Trading!! Siraj Hudda, CFTe Web: www.prowaveanalysis.com Skype: sirajhudda Email:...
USDINR@22nd May 2016- “Bang on…Impatient About Acche Din” Getting impatient for “Acche Din” –I guess this is the case with every Indian since we voted BJP to power in 2014 since expectations were high & everyone was desperate to see better results. But let us not forget Mr.Modi talked about 60 Months & it is just 24 months old under his leadership. The...
This is what we have to say about Mr. Raghuram Rajan's decision to leave Reserve Bank Of India ( RBI ) after the end of his current term in September. This is what happens when you state the obvious to politicians. He is the only central bank chief with chutzpah to tell governing politicians that central bank can't cure it all with just cutting rates ! At some...
2 .618 retracements signalling a potential gartley pattern on to the 65.500 range.