- This is a chart for USDINR spot.
- I trying to count a possible pattern of double three in this 2 and 1/2 yr up move in USDINR from early 40s.
- The first leg was a 3 wave move, followed by an [X] wave.
- The price pattern after the [X] wave may be counted as a neutral triangle (Courtesy Neowave).
- Which means wave [C] should be the longest of wave [A], [C] and [E].
- The wave [B] was a drawn out affair in time, but price wise it did not make an impact, where as the possible wave [D] is sharp so far, and may reach 58.74 odd levels, before it is done with, providing us with clear alternation in price, time and the pattern formed or construction.
- Wave [E] should be short and sweet, and a sharp down move should follow once it is done.
- Now I am only learning Neowave, and there may be mistakes in my analysis, which I will be glad to correct upon pointed out.
- But the purpose of this analysis is to provide us with a broad possibility, or a broad road map, to guide our trading activities on shorter fractals.
