US dollar versus Indian Rupee has broken all time high as expected in a clear monthly uptrend eliminating all bearish obstacles. As of 13th Friday 2020, USDINR Forex cross pair has broken all time highs after reacting strongly to monthly demand imbalance at #1 last July 2019.
As expected and predicted by supply and demand, USD versus INR rallied strongly and has recently broken all time high around 74.48. That does not mean that we can go long right now. The monthly uptrend is still intact, a new long term monthly imbalance is in the making at #2 around 71.50 but the new impulse is not confirmed as an imbalance yet. USD to INR prediction is bullish, long term long bias in a clear uptrend.
You must know when and when not to place a trade based on your trading plan, and only after putting the analysis into context by doing a multiple timeframe analysis.This is a longer term timeframe analysis, you cannot make a trading decision on a single timeframe.
This is the kind of price action technical analysis you will learn in our trading community. You will learn how to locate new supply and demand imbalances and trade without using any indicators, no news, no fundamental analysis, no earnings announcements, no volume or VSA analysis. Just supply and demand imbalances.
Trading supply and demand imbalances is ideal for beginners and those with a full or half time job, you won’t need to stay in front of the computer all day long trying to move price action with your mind.
As supply and demand traders, we do not need to pay attention to the news, fundamentals or any earnings reports. Once a big timeframe imbalance has gained control, earnings do just the opposite and react strongly to those imbalances. Why is it that you see positive earnings and then the underlying stock drops like a rock, or a negative earnings announcement and the stock rallies like a rocket out of control? You are probably missing the fact that there are big imbalances gaining control.
Unless you are doing very short term trading and scalping, you should not worry about fundamentals or earnings announcements.
You can use these imbalances to plan your trades in lower timeframes. Trading is just waiting for the right trigger points and scenarios to present themselves, this game has got a name and it’s called the waiting game. We need to patiently wait for the correct scenarios and setups to happen and wait for price to pullback or dip into the price levels we want to trade, in our case these price levels are made of supply and demand imbalances.
If you want to learn how to trade using our supply and demand trading strategy, join our supply and demand trading course.
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