In this currency pair, it has been observed that the price action firstly built double top on the chart and now breaking the support of 87.5, which may result further weakness in Euro and INR may get stronger. Price action is expected to go down to next support zone at 86 levels with SL88.
It has been observed in the chart that the price action firstly formed Cup n Handle chart and then consolidated in a range. Then it further break the consolidation with a strong bullish candlestick and now retracing back to the previous resistance zone, making it a support for buyers now. Now, it seems to all set to rally from here on.
T-33, T-36, SL 30
It has been observed that the price action formed a ascending triangle on chart and then breaks a strong bullish candlestick breaks above the ascending triangle and the resistance zone. Then the price action falls back to support where bullish buyers showed buying again indicating a further move up.
Expected Target: T-210, 220 & SL - 190 (1:3, 1:5)
It has been observed that the price action is breaking out from a consolidated triangle pattern, indicating further up movement.
Kindly note once the price action closes above the 2400 levels then the pattern confirms.
The price action looking weak as it confirmed a Lower High (LH) and now it may continue the downward trend and will fall further down. The price action may reach to following targets.
T1- 1900 (1:1)
T2- 1600 (2:1)
SL - 2360
It has been observed that the price action firstly formed a bearish engulfing candlestick pattern at the resistance zone indicating weakness in price action. This is also supported by bearish divergence in RSI, indicating further price action weakness. Therefore, from current levels price action may further dip down to the next support zone which can be seen at...
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.)...
It is been observed that the price action formed a harmonic pattern called Bat Pattern indicating bearishness and a counter trend trade opportunity. It is a low risk trade as the price action has already reached to the previous resistance levels at 406. Now if the price action breaks and close above the previous resistance levels of 406 then we shall continue to...
It is been observed that the price action is ranging Ascending Triangle after the successful breakout from the downward trendline. Currently, the price action is stating a resistance level at 1.3210 which is been broken as the price action breaks and close above it on a weekly chart. It indicates buyers dominance and control over price action as it may further...
It is the second most important trading pattern in Harmonic Pattern series , called Gartley Pattern which is also frequently observed in markets. This post a second post of educational series related to Harmonic Patterns ,
In this post, I cover the following things regarding the pattern
1. Pattern Traits
2. Step by Step formation of the Pattern
On monthly chart, the price action indicates a change in trend.
Why is it a Change in Trend:
1. Price action making lower Highs (LH) and Lower Lows (LH) on monthly chart created a downward trend channel.
2. Now the price action made a Higher Low (HL) as indicated in above chart that indicates rejection of lower prices and buyers entering market to control...
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
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
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...