Triangle is over. Trade: Short at market Stop loss: 86.75 Target: 84.75 to 84.50
It's now a triangle which is being formed.
USDINR had initiated a major correction after completion of 5th impulsive wave which was a diagonal. Recent correction is now forming a C wave which is targeting 72.5 which might end the formation of Wave W in a complex correction. The current Wave C is expected to end at around 12 to 20 Oct 2020. And the chart is self explanatory.
Chart explains what I predicted to happen in near future.
Followed by a flat, Now it is a triangle. There shall be another corrective wave to the downside targeting 0.698-0.696. Red zone shall be short entry point where resistance can be expected.
Wave 4 expected to end by 29 or 30.09.2020. We have to wait at least until 29.09.2020 to recognize the pattern and entry point to trade short.
Wave 4 is about to end @ 0.69829 and wave 5 to start going long to hit 0.7080 - 0.712
Wave X in E is in progress. Wait for pattern formation and clues for short entry
Wave X is in progress and is likely to end by 21/09/2020. Wait to take short position and pattern formation for clue on short entry point.
FX_IDC:JPYINR Short opportunity @ 0.692-0.694 Target: 0.684 Caution : A Bullish reversal is expected in the zone of 0.688-0.679
Wave C in Wave 4 targeting 73.7. Short entry signals is expected to be spotted at the blue zone between 73.70 to 73.77. Target 1: 72.65 Target 2: 72.4
FX_IDC:USDINR Wave 4 in Wave Z or y of Y is in progress which might target to end at 38% - 50% Fib retracement at 73.3 - 73.5. Wave 5 targets shall be @ 72.65 and 72.40.
FX_IDC:USDINR
FX_IDC:USDINR The pair is under complex correction. There is an opportunity for short entry at the end of E wave in triangle expected at 75.09 to 75.3 Target 1: 74.32 Target 2: 73.6 to 73.5
FX_IDC:USDINR Pair is under minor correction. Correction waves A and B are over. Wave C is in progress and generally it shall have a 5 wave pattern out of which wave (i) and (ii) are over. Wave (iii) of wave C is in progress targeting 74.0 to 73.5 @ 1. 38% retracement of major wave 2. 61% extension of wave - A 3. 100% extension of wave - (i) 4. Historical...
1M chart analysis 1 round of impulse and corrections are over. A new trend just got started and is separated by a vertical line labeled "1M Line separating new trend from previous trends". 1W chart analysis is focused on new trend It is expected to stay within the ARC. 1D chart analysis is focused to rip apart what is going inside the ARC. 1 round of impulse...
I continuation to my previous posting with multi time frame analysis in the link, Correction wave 2 is over and Impulse wave 3 started yesterday with a bullish engulfing candle at 92.5. Trade setup: Trade direction: Long Entry : 92.5 to 93.6 Stop loss: 92.0 Target :100