Hello fellow traders , my regular and new friends! Welcome and thanks for dropping by my post. Trend looks set ,watching for oppo so short Do check out my recorded video (in trading ideas) for the week to have more explanation in place. Do Like and Boost if you have learnt something and enjoyed the content, thank you! -- Get the right tools and an experienced...
USDMXN - Peso trade idea. Technical View Pattern - Triple Bottom Support - 19.93810, 19.85110, 19.81000 Resistance - 20.09215, 20.21170, 20.31620 50 EMA - key support zone 200 EMA - Key Resistance zone EM Currency pair - PESO yields had a nice move... We could extend further to 1.618 area! Key tip: Trade your own trade plan for further confidence Trade...
//Elliot Wave Analysis// USDMEX is finishing wave a and moving into wave b. //Sentiment Analysis// 18DEC2020 COT Report indicates a shift in sentiment with an increase of 21,641 short contracts, bringing the net position of non-commercial traders to -3,227. //Price Action// Price could push down towards the end of wave 4 at 17.44984, but no further. If the...
During the trading session on Monday and Tuesday the Mexican peso has recovered. I expect the US Congress will pass the U.S.-Mexico-Canada Agreement in a few weeks. That should help the Mexican Peso to break the support 19.5 (Green Line). I also expect the trade between the United States and China to come down before the US elections. It is important to notice...
After Mexico and the USA reached a deal to curb migration and avoid tariffs on Mexican imports, the Mexican peso strengthened around 2 percent against the dollar during the Asian trading. I expect the USDMXN to go lower during the American trade session as well. In the long run, I still believe USDMXN will go lower than 18.90 if there are no more conflicts between...
The next target is seen around 19.45/50. The mentioned area could limit the upside, but if it continues to rise on top, 19.75 is the next strong resistance. After a pullback to the 19.20 area, the USD/MXN resumed the upside, and it reached at 19.42, the highest level since January 8. It is holding near the top with a bullish tone.
Who's in this sell I posted way back? Looking to go to 18.50-18.00 to break trend line more longer term.
At the top of a rising(bearish) wedge inside of ascending bull-flag range. Provides for wonderful R&R. Entry and stop as shown. I am doing 50% now and 50% at another touch of the top of the wedge. Safe trading.
UMEX is currently breaking the trend line. It is in the zone. Notice that the .764 extension breaks previous high. We It is in a strong uptrend currently but can reverse at any time really looking at the price action. I marked some potential levels for limits and targets. This is a weekly swing. The idea would be to get a correction breaking trend line. If it...
I will leave some to run in case it breaks the high.
Umex looks like it will at least correct up more considering the price action. It swung 7. It could be 50-60% of this small swing down, but possibly break the high.
Long USDMEX till probably 20, maybe 22. its low point on the daily Is around 19.4, so it could go lower, and if it breaks that level you should consider closing. but so far the lower levels are holding which tells me this is ripe for a nice long long!