- Nothing new here, almost everyone interested in USDINR know that prices are into a coiling pattern.
- Its a matter of time before we get a resolution.
- One point to note though, since this has been a prolonged correction, the resolution may seem to take forever, and may include many futile attempts by eager traders to catch the much anticipated breakout or breakdown.
- My suggestion is its okay to let go of first few points, because there would be a long way to go.
- One cautionary note though, since we have traveled so close to the apex, there is a chance that the much awaited BO / BD may fizzle out.
- So, since the anticipation is so high, patience is the key to successfully trading this pattern.
Nice observations. But what if its not a Triangle but an Inverse H&S? What's the chance of fizzling out then even for a failed pattern breakdown? :D
ReplyDeleteI am tracking that possibility too. This post is just a reminder that the congestion can last longer that ones patience. :)
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