USDMXN - Trend Reversal & Cypher PatternUSDMXN trend is changing direction. looking for a long entry at the cypher entry point.
USDMXN
USD/MXNCould we see price continue up on as detected on daily or could price reverse and make its way down.
We are at a good level right now, i have a kumo breakout and a reliable chikou span confirmation that this will go up on the daily.
We are on the hourly right now and we can see price at a 0.236 retracement level so price could bounce up on continue down (watch for retest on the inside if this is the case).
Furthermore on the daily we can see a buy at a good level as it is off the support trend line (up trend)
USDMXN As you can see i have a kumo breakout at a good area of support from the up trend, we have seen on the daily a price rejection and a red candle start to show but that price has reached a .283 retracement so we could see price bounce off that and then make its way up or retest on the inside on the S/R trend line and make its ay down
USD/MXN Short Idea - Death Cross Ahead and 700+ pips?USD/MXN has been giving us some serious pips since November! We captured over 1,400 on the latest sell-off, followed by 400 plus pips recently on a short-lived buy. If you refer to my linked idea below related to the reversal after the drop, you will see in my updates how the 200 MA provided resistance, to which I immediately closed my buy position. This area also happened to be a key zone in the market as highlighted. Price respected this area of resistance this week, right at the 200 MA touch on the daily time frame.
What I see now is a possible death cross. We see a kiss and possible cross of two key moving averages, the 50 MA cross over the 200 MA to the downside. This could mean a death cross for this pair = more selloff, to the tune of another 700 pips! We also see the trend line,which as highlighted, price has respected. If this pair continues to sell off we could see price hit the next lowest key zone (highlighted), which also would serve as an area of confluence at the next key zone in the market. Based on the last bull run attempt it just doesn't appear that the bears are too ready to retreat and give way to the bulls. We see a little indecision accordingly so far, looking at the latest daily candle, and the bearish retreat on the lower time frame.
Please view my linked ideas below along with my commentary in each idea along the way. Please also like and offer your comments. It's a good idea to pay close attention to my updates as I observe price action. I'm a student always and love to study the markets.
As always trade at your own risk. This idea is for demonstration and educational purposes only. Always use proper risk management.
USDMXN Possible bullish reversal USDMXN broke out of the one month long consolidation, we now have a possible bullish reversal and we can try to catch this retest for a long trade in the kill zone as shown in the chart above. Target one is as shown in chart but there more upside if we break above that level as well
USD/MXN LONG IDEA - WATCHING FOR REVERSAL AFTER 1400+PIP DROPWe just caught 1400 plus pips on the sell of this pair (note linked related idea below). I have been waiting patiently for indication of reversal. We just received impulsive bullish movement; note also how price respects trendline and has confluence with 61.8% fib level. TP levels 1 and two are placed at 50% and 61.8% fib extension. Yellow zone is a key demand zone historically. Trade at your own risk and always use proper risk management.
USDMXN BULLISH WAVE COMING USDMXN BULLISH WAVE COMING UP FOLLOWING AN UPTREND CHANNEL ON A D1 TOMEFRAME
USDMXNRespecting the Weekly Trend Line. If You Look at it on the Daily/2h Times, you can see price is doing a correction which is a good sign of price reversal. To be on the safe side, enter for a buy after the breakout. I am more than confident that its going to go Bullish soon!
USDMXN - Short with tight Stop !We have a clear impulsive wave down, and are currently in wave 4 which is playing out as a Triangle.
We can short this because we have a very tight defined Stop which is above wave E of the triangle.
Elliott wave Analysis: Triangle on USDMXN Points LowerHi everybody,
USDMXN made a nice drop in impulsive fashion, down from 20.657 level which can be a five-wave development in the making. We can see waves 1,2 and extended wave 3 completed at the lows, so current sideways activity can be a temporary pause within the downtrend. We see this pause as a triangle correction within wave 4, which can now be trading in final stages. Once this correction finds resistance, that is when final wave 5 as part of the trend may start to develop, and take price below the 18.90 area.
USD MXN BUY (US DOLLAR - MEXICAN PESO)Hi there. Price is forming a continuation pattern to the upside. Wait for the price to hit bottom of the pattern and watch strong price action for buy.
USDMXN Short scalpBeautiful short scalp opportunity with levels lining up nicely. Monthly level plus important daily node.
USD/MXN - Long/Short scenarios.Key level is 19.0675! Breaks straight above, possible flag pattern, looking long position after break 19.2500, second scenarios is what my option is more likely is descending triangle forming. Break below 18.8765 take a short position. Keep on eye Awesome oscillator, if break zero line or fail and bounce below again.
USD/MXN - Long/Short scenrios.Kind of double bottom forming. First key level 19.0675! Break above looking long position, after breaks 19.250. Second scenrio what my option is more likely is descending triangle patter forming. After breaks below 18.8745 we are short position. Keep on eye awesome osc. if its fail break above zero line or not.
USDMXN H4Inverse head on shoulder reversal pattern happening here as price has broke its downtrend structure after making its 3rd bounce off the major weekly ascending trend line.
USDMXN LONGSo the short position a few weeks ago went beautifully, you can check on my profile. We arenow looking for reversal
USDMXN Bullish pressure taking placeAfter a triple descending cycle down to 19.80 support levels, the bullish pressure its getting in to the game for a potential corrective up to 20 levels.
