Update 17-EUR/INR
Chart 1 - I would not prefer to enter short if the price breaks below 82.0803 because the present move lacks momentum to downside. It seems to be a corrective move to the previous upward move.
I would wait and watch the market for clues on building momentum to the downside.
What to expect?
Chart 2 - Possible moves are depicted as follows to wait and watch
There should be a conclusion in trend by 21 or 22 April 2022.
To catch the entry earlier, track the wave C for a 5 wave motive move to the upside. Spot wave 5 and enter short upon the price break below wave 4 of wave C.
Keep watching this space for further updates on trading and managing the trade.
To understand the concepts behind my analysis please checkout the linked idea. Happy trading :)
Disclaimer: Validate with your analysis before trading. This post is not a trading advise but a product of personal research and analysis
I would wait and watch the market for clues on building momentum to the downside.
What to expect?
Chart 2 - Possible moves are depicted as follows to wait and watch
There should be a conclusion in trend by 21 or 22 April 2022.
To catch the entry earlier, track the wave C for a 5 wave motive move to the upside. Spot wave 5 and enter short upon the price break below wave 4 of wave C.
Keep watching this space for further updates on trading and managing the trade.
To understand the concepts behind my analysis please checkout the linked idea. Happy trading :)
Disclaimer: Validate with your analysis before trading. This post is not a trading advise but a product of personal research and analysis
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