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| 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.
1 comments:
There is lot of articles on the web about this. But I like yours more, although i found one that’s more descriptive.
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