meszaros

IN50USD band sideways motion...

Long
OANDA:IN50USD   India 50
I estimate the index exchange rate for a broad bandwidth movement of almost 4%. I look forward to rebuilding a fractal underneath. Since the current range of ATR is nearly 1.5 times the ATR of the lower fractal environment, so the newly developed fractal size can increase as much.
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The Indians are fascinating. I've been studying them for some time. The price tends to follow DJI but only to a limited degree. The Indians have a mind of their own. πŸ˜‚ Price isn't as hysterical as the American stock markets. The Indians have a tendency to scallop as some of the curves show. Based on experience of this index I agree with your green box areas in May and July 2019. The probability is for a sudden punch north. I don't think my expectation is based purely on technical analysis but on historical knowledge of the behaviour pattern of the chart. Of course the markets have a mind of their own, so anything is possible. Many thanks for sharing. πŸ˜€
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meszaros Captain_Walker
@Captain_Walker, By knowing the Indian market you are incredible. I wouldn't think I can replace your fantastic readings and awareness with some technical lines on the chart. I prefer these as a supplement to people who already have an established image of the markets. They know what they want to trade, but the exact timing is not always achieved. If we look at technical analysis from this aspect, it can be a good addition to any instrument. But relying on this is not effective.
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@meszaros, At today's date it doesn't look great for a move north.
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meszaros Captain_Walker
@Captain_Walker, I agree with you. But the Indian stock market has just entered a sidewalk. My analysis also includes this. There may be a reduction in speed and momentum there. I see this already in the movement of the exchange rate.
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@meszaros, I took my chunk on the 6H plunge south.

If the Indians decide to go north, I shall hunt them north too. LOL πŸ˜πŸ˜‚
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