Mexican Peso Futures: Getting Ready to Short

But which one??

I am not sure yet. I will be watching the price action in these three areas to determine when I would like to enter. It is always tough for me to decide in these situations because the stop loss for one pattern is so close to the entry of the next so it is important to be patient to choose the best set-up based on confirmation of the PRZs.

If you have any thoughts regarding the Peso please share them!

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Still on the sidelines...if this candle closes below the 2618/AB=CD PRZ, I will likely short a re-test of either 0.05291 or closer to the recent highs.

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4H KS has turned up...daily Ichimoku still bullish...stay patient to see if the price will rise to one of the bat patterns

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It appears patience didn't pay here...up as much as 100 pips from the entry point I considered. Didn't lose any money either though!

Large bat pattern is still in play...and technically the small one as well...I will continue to monitor and post any new ideas

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Watching these potential patterns this week. I am most interested in the Large Bat/Butterfly PRZ. However, if price action looks good at the completion of the Shark I will take it and look for a subsequent bullish 5-0 set-up which may drive price up to the Bat/Butterfly PRZ. This would of course be very fortuitous and likely an unrealistic scenario, but hey -- it could happen :)

Note

I will continue updating my trades on the Peso in the idea linked above

SharkbaitAl

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SharkbaitAl

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