EURMXN trade ideas
Goal: -7453.4 (EURMXN)Expect EURMXN to decrease 7453.4 units. Price closed below 20.05545. Watch for bearish price action signals.
EURMXN `` SUPPORT `` RR/20.8Looking forward to price bouncing from support.
RR is tangible. Over 20x.
EURMXN Expected Outcome: 1.09% IncreasePrice pulled back to the horizontal support level, EMA 10 support level, and EMA 20 support level. Enter a market execution order and buy limit order.
Eurmxn long idea.Possible scenario for this pair. Price is likely to reverse from that white horizontal line since its 38.2 fibbo retracement.
EURMXN may break lower. Usually I am a buyer of descending (or falling) wedges when we reach support as I typically would be looking for an eventual breakout higher. However, this time may be different. The reason why is as we are hitting support, the pair is also trading below the long term 61.8% Fibonacci retracement of the February 2020 lows (pre covid) to the April 2020 highs (post covid lockdown). The MXN has outperformed during a "risk off" market recently which is also a risk, especially if stocks overall maintain stability or rally. For now, while below the 200dma I will remain bearish the EURMXN unless we see a major breakdown of equity markets globally.
EURMXN..another wedge, another break?EURMXN seems to be attempting a retest of the downtrend after it latest attempt to break out of the wedge. There is a history of false breaks over the last 3 years, but when it goes it really goes. Stochastics look a bit oversold in the s/t so the downtrend might hold this time and fuel a move higher.
EURMXN longer term$EURMXN is making higher lows in a descending wedge which is typically a reversal setup (higher in this case). There is a strong inverse relationship with risk assets (SPX in this case) so a move above 24.1700 would be a very bullish event.
How To Trade The Ascending Triangle + Double Bottom ComboWait For The Close Above the Neckline at Horizontal Level 24.07952. After the close above level; resistance level turned support.
Wait For The Retest Of The Neckline At 24.07952. Watch For A Pin Bar or Rejection Candlestick to form at the horizontal neckline.
Enter Trade At The Closing Price Of Pin Bar or Rejection Candlestick.
Set Target Price Using Measured Objective Of Pattern. Measured Objective Is 24.37017. Measured Move Is 2906.5. Height Is 2906.5.
Exit Trade At Target Price.
EURMXN Take Profit At 24.27719 ; 24.37017 ; 2021 Apr 28 TradeEURMXN Take Profit At 24.27719 ; 24.37017 ; 2021 Apr 28 Trade Idea at 20:00
After Pin Bar formed, placed buy limit order at 24.11001. Stop Loss Level is 24.04090. R-Multiple is 2.42R.
Why did this trade work perfectly? Four or more touches for support resistance level, identification of trend, and pin bar price action signal.
good profit Chart can not fall below the 50%. Tried before while never done it. I'm positive it going up
Possible good ratio Just simple as in the image. The ratio profit/loss is quite interesting. Probably this idea will fail as the stop loss is very tight but in case of success the profits will be very positive
Weekly trend swing trading idea Eur/MxnHello Traders,
Here you can find my weekly trade ideas. They mainly serve to achieve a possible learning effect or to show other perspectives how other traders set their positions and act, should be very interesting. The focus is on the "point of view" (learning through seeing)
All trades amount to Fundamental, Economical, Mathematical, - Technical information.
In the 4 years that I have been trading now, I have simply learned that the trades are only as good as the information that is based on them, the higher the density of information, the better and more likely that the trade will work.
Every week on Sunday there is an update, because new information is published over the period. Depending on how these end, the trade is either closed "early" or it continues on its way towards TP (Take Profit)
CRV (opportunity-risk ratio) is ALWAYS 1 to 3
Trading style includes hedge and trend based swing trading and position trading approaches.
Please use your own criteria (entry, exit,etc.) and don't be a copy, otherwise it won't work, find out which style suits to you
Enjoy and take what you need
Have a Nice Week :)
EURMXN - LONG - Possible Trade Upcoming in #April #Forex #LongHi Guys,
As it's closing in on the end of the month, i've started looking at some options for April.
I've come across a potential LONG on the EURMXN with an R/R of 3, I say potential because we're not in a position yet to place the order.
So to explain the analysis, we're currently on a March long downtrend referred on the chart as dt1, and also closing into supports at Up1 and Sup1.
I think we're really early for this at the moment, but i've set alerts on dt1 as well as Up1 to see if we get any early action this week.
I'm really interested in convergence point "a". If price action either breaks through dt1, and retests, i will be considering a long. If price action moves sideways and outside of the dt1 downtrend, i will consider a long.
I will no longer consider a long if the price breaks down and significantly passes Up1.
Thank you for taking time to read this,
For_The_Many
Do it🔥One more trade on big frame, wolves🔥
Great descending triangle on EURMXN currency pair.
According to Elliott Waves theory Wave D is done and the price is heading to Wave E. However this triangle may be circumcised and the breakout will be in near future.
Follow the chart and look for the breakout carefully.
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And always remember: "we don't predict, we react".
EURMXN Target Price 25.64499EURMXN Entries
Date and Time: 04 MAR 21 12:00
Closing Price and Entry Price: 25.12248
Date and Time: 04 MAR 21 16:00
Closing Price and Entry Price: 25.19305
