From trading perspective the first and
foremost thing to identify is a trending move. We have seen sharp rise in
equity markets over past few days but it has now arrived at crucial juncture.
On contrary, currency pairs like EURINR,
GBPINR, JPYINR have shown a very sharp positive reversal after a long time.
Is it just starting a trend?
The best strategy a trader should adopt is
to be open to trade anything that provides good setup. With the help of Elliott
wave we can gauge the maturity of trend and one should enter into it when the
trend is just starting to make the most out of the move. If prices look to be
in matured stages of up move it is prudent to leave that asset and identify
other assets where the trending move is in nascent stages.
Look at the below charts of currency picked
up from “The Forex waves update” and
see yourself a trend in nascent stage. It is time to jump the ship!
EURINR 60 mins chart:
GBPINR 60 mins Chart:
Look at the above two charts of EURINR and
GBPINR that showed strong impulsive rise. Also prices are breaking above the
multi-year resistance levels. These levels were protected in entire of 2017 and
we are just breaking it on upside. The daily charts are shown in our Forex
research report which is published on alternate days.
I strongly believe it is time to switch the
asset class you are trading. Equity has shown a strong run up and is now
maturing with increase in volatility and on other side currency is probably
just starting a strong trend.
Subscribe now to “The Forex waves short term update” and see yourself how to trade
USDINR, GBPINR, JPYINR and EURINR from here on. Subscribe here
Workshop on becoming from novice trader to an
expert trader using basic and advanced concepts of technical analysis – Elliott
wave, Neo wave and Hurst’s Time cycles. Register now and avail early bird offer
along with free research and training CDs well before the actual workshop. Know more here
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