MXNUSD trade ideas
USDMXN is trading in a very strong support level The USDMXN is trading close to a very solid support near the 200 EMA in weekly candle. It has been bouncing since November last year from that same support. The last time it broke the 200 ema was in May 2013; in February of last year it reacted strongly when it touched it. From my perspective, an upward rebound is more likely than a break of the support, which could reach 20.5 pesos per dollar.
USDMXN | SHORT-Values-
Entry Range: 19.93293 - 19.97017
Average Entry: 19.95845 (RRR: 1.86)
Stop Loss: 20.00931
Profit Target: 19.86254
-HOW TO ENTER MY TRADES-
1. Ladder your entries.
You'll want to ladder place your orders exponentially within the Entry Range to the point your RRR is atleast 1.5 if fully filled.
2. Only first touches are valid.
If price is rebounding back into the entry zone after either the profit target or stop loss was hit the entry zone is no longer valid.
Example:
Trade Idea:
Valid and Invalid Entry:
USDMXN - SELL
Momentum trade : Full bearish in W and D1
Confirmation in H1
Keep an eye in the way it return to our demand zone
USDMXN Shortthe depreciation of the USD is boosting the MXN.
Targets are 19.68000 / 18.87000 / 17.10000 / 16.40000
USDMXN - Waiting for Long Set upUSDMXN at monthly and weekly support levels and with the DXY looking to reverse to the upside this week, we could see a reversal of the USDMN to the upside - lots of volatility.
USDMXN Hi friend
Great position for long trade, important support and big fundamental news about US dollar.
I will place may alarm at 19.80...
...On a Mexican holiday
Where the sun is shining away...
Good luck!
Any comments of the idea please let me know.
Thank you,
Israel
Long for the whole monthMXN has finally done its final drawdown it always take a month and few days to either go up and to go down now were finally done now it time to go to long 21 is the goal will take a while though either 2 weeks or the whole month. Would scalp the sells and find new entries for longs.
