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USDMXN

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.
Long
by mrsceleste
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.
Education
by ew-forecast
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