 |
| 4 Hourly Chart |
A contracting triangle is forming most probably in wave (b) of [4], as per our preferred count. I am suspecting the last two days strength in USDINR as wave {e} of (b) in the making. The possible target zone for this wave {e} ranges from 55.55-55.65. I would start looking for reversal patterns to the downside once we near this range.
This consolidation in USDINR has tested everybody's patience, and that is a good thing. Because once we get a resolution of this range, it should be nothing short of explosive, and yes tradable.
No comments:
Post a Comment
...I am thrilled to learn what you think about this piece of content...