USDMXN on daily have been respecting trendines until price broke above the trend line after 5 elliot waves and turns a takeout of the breakout on daily, we can see price back ranging inside the know channel
Note
Potencial short entry for this pair, looking at a H4 chartTrade active
Sell limit order already active and running +60 pips Note
USDMXN already moving +170 pips in profit, at this moment protect your trade moving SL at the entry price, this will make a risky free trade. TP right at the 0.618 price Note
USDMXN after presidential election price jumped close to the last resistance. Sell from that high Note
Potencial Head and shoulders pattern to reentry the shorts Trade active
Reentry running on proving from last update, always important to look at the big picture and structure on bigger timeframes +660 pips on profit so far.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.