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U.S. Dollar / Mexican Peso

USDMXN possible Wave 5 setup

By CroomFX
Here we have a pretty simple setup. The .382 has been holding for a couple days so i guess ill post it. Wave 2 rejected at the .618 retracement level, so im anticipating the .382 retracement level to hold for Wave 4. It also is more consolidated than Wave 2. Wave 3 rejected at the 1.618 extension level so we can assume that wave 5 has the opportunity to become an extension wave.
Elliott Wave

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