from last 3/4 months i am trading with usd/inr , anybody know which indicator or trading stratagy is helpful
I think Indicator, a trend-following tool, a trend-confirmation tool, an overbought/oversold tool and a profit-taking tool are helpful. By learning a variety of forex indicators, you can determine suitable strategies for choosing profitable times to back a given currency pair.
Moving averages are known to work best across most of the markets so you could start with that. By the way, which broker allows you to trade USDINR? Curious to know. I trade using Wolfe Waves and could possibly check to see how this pair is doing. Let me know if interested, I'll download the broker's MT4 and give it a go.
thanks for reply
i am interested in wolf wave, but i want to trade with 5 /15 min time frame with buy sell can u tell me which stratgy can i use USD/INR pair
my e mail id---chinmaychukare555 at the rate gmail.com
pls understand my english is poor.
Well, I can tell you this. 55.176 is a strong resistance. Right now all indicators point to a drop in the INR. If I were to trade, the first target price would be 54.783, followed by 54.539. Or you could wait until 54.783 is breached and then place a SELL Limit few pips below this with take profit at 54.539. Your stop loss would be 54.9.
Hope this helps.
P.S: This isn't a M5 or M15 strategy, but is on the H4 charts. So you might have to keep the trade open for 2 - 3 days.
BLOG IS VERY NICE...
where can i get wolfwave indicator ?
Or how can u download broker's mt4 ?