Preemptive note: This is non partisan analysis. Please do not waste my time (or yours) by saying anything about the polls not being accurate. That's self-indulging conspiracy theories that have no basis in any fact. Now onto the reasonings. 1) Price currently sitting at the .618 fib retrace. You can see this clearly on the chart. This is a level to look for a...
Pair approaching supply level. Entry : 19.4724 Stop : 19.5827 After filled and level reaches 19.3531, move stop down to entry or collect profits.
Potential short on USDMXN based on mirror trading.
FX:USDMXN has been on a savage tear the last 2 weeks. It has printed multiple Knoxville divergences as well. Using pivot points and trend lines, I shorted this on break of the last trend line. It now has 2 missed weekly piots, and 1 unhit weekly pivot. I want to short again on a break of the current trend line (which should also make it hit the weekly pivot)....
Price definitely doesn't wanna break the high you see on that spike up on the left. Some crazy good USD news would need to happen because it seems Bearish in general. ANYWHO LETS GET THE THE TRADE It's basically a simple consolidation trade. TP 1 shouldn't take long to get to at all, but the full trade might take a week or two. Stay cautious about lot sizes with...
Well, what do we have here? I'm seeing a 4-hour-chart based uptrend already broken, this pair is going down I think, but first it has to re-test that trendline, let's see what happens. Any comments?
Well, what do we have here? I'm seeing a 4-hour-chart based uptrend already broken, this pair is going down I think, but first it has to re-test that trendline, let's see what happens. Any comments? PS: I'm really ashamed, I used the word 'breaked' instead 'broke' hahaha my bad.
USDMXN appears to have formed a Bearish Flag pattern (consolidation). This should mean that another bearish impulse lower.
USDMXN broke the Daily support in 18/18.2 area. I setup a trade with an EP at 18.04 SL at 18.2 TP at 17.65
Im going in for a sell setup on USDMXN Looks like it keeps testing the previous resistance.
We need to see how it reacts to the 18.65000 support if it holds make the trade to a target 18.90000. If it breaks wait to slow down the down to the 18.50000 support.
4 hour Rsi approaching overbought. 1 hour is already overbought. USDMxn also approaching major resistance at 17.94ish. I think it will tap that resistance line then run down for a beautiful end of week trade. I have my sell order set at 17.9 and alerts set for a break of either line. If it breaks the trend before it hits my sell order I will handle it manually.
I Shorted USDMXN at the break of the trend line last night before i went to bed, and woke up to a wonderful +$500. It is in a down trend on the larger time frame, so I expect it to keep moving down. Be mindful of the mini S/R line and expect a possible bounce there which could even take it back up to 17.54 where the top of the trend is. If it breaks the trend...