USD INR-B leg extending but Distribution may start soon
i have updated daily chart of USD INR
and labeled wave pattern and this is the 1st of 3rd and currently B of 1st is extending and along with this there is negative divergences on RSI
in times to come USD INR to see distribution and completion of Extending wave B and then expect wave C on down side towards 58.58-57.65 and then again wave 3rd of 3rd will start which will be very powerful and market will have Bath of BLOOD.
all in all i am seeing topping out formation for USD-INR and appreciation of INR .
We all must move along the simple idea that all forecasts are an imagination of the future disciplined by observations of the past and as new evidences presents itself on the table be humble to adjust our anticipations accordingly.
I don't know whether you and I should expect such low levels but the Elliott Waves Principle suggests it and till the market proves it wrong it might be better to be prepared for the above scenario till a better one is clearly emerging.
This is only for education and Information only,please consult your financial adviseror Before Trading and investments in market.
Thanks And Regards
Nishesh jani
Professional Trader & Investor
www.zerodelta.in
i have updated daily chart of USD INR
and labeled wave pattern and this is the 1st of 3rd and currently B of 1st is extending and along with this there is negative divergences on RSI
in times to come USD INR to see distribution and completion of Extending wave B and then expect wave C on down side towards 58.58-57.65 and then again wave 3rd of 3rd will start which will be very powerful and market will have Bath of BLOOD.
all in all i am seeing topping out formation for USD-INR and appreciation of INR .
We all must move along the simple idea that all forecasts are an imagination of the future disciplined by observations of the past and as new evidences presents itself on the table be humble to adjust our anticipations accordingly.
I don't know whether you and I should expect such low levels but the Elliott Waves Principle suggests it and till the market proves it wrong it might be better to be prepared for the above scenario till a better one is clearly emerging.
This is only for education and Information only,please consult your financial adviseror Before Trading and investments in market.
Thanks And Regards
Nishesh jani
Professional Trader & Investor
www.zerodelta.in
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