USDMXN trade ideas
USDMXNWell hear me out here fam, Im really hopeful that USDMXN plays along here because what Ive noticed is how this pair is always present on the Elliot Wave check. So I approach it the Elliot Wave + Fibonacci wave and Im looking to hold as many entries as possible.
Short on USD/MXNI believe the political pressure coming from around the world is forcing the USA to re-evaluate their trading agreements.
Consequently, Either Canada or Mexico will greatly benefit from increase price of petroleum and plastics.
We know the level of security in Canada is miniscule compared to that of the Mexican border, however Mexicans are notorious for their excellent quantum "tunneling" capabilities.
I recommend shorting USD up to at-least a comfortable level of support.
I will not participate on this trade,
however I would just like to pitch the idea for those curious.
Bearish trendLong downward movement and series of lower low and lower high indicate that trend will continue further. Bears have still strong control .
USDMXN!We are anticipating that the next bearish trend wave is on its tracks.
It could be a high risk trade but a promising trade.
Trade with care use a stop loss.
USDMXNIt has stopped making higher highs on hourly time frame and is nearby 0.786 fib levels.
Some divergence could also be in play specially on Klinger.
For safer trades both plans are shared to be act accordingly with discipline.
USDMXN Target Price 20.88690USDMXN Entry Price Range 20.27720 - 20.47720. Wait for price to form a rejection candlestick in a pull back to the EMA 10 EMA 20 and Horizontal Support Resistance Level.
3 Benefits Of A Simple Trading Strategy Keep It Simple Strategy In Forex Does Work:
3 Benefits Of A Simple Trading Strategy
1) More repeatable, more testable, more predictability, better long term results.
2) Easier to execute.
3) Easier to overcome emotions caused by confusion.
USDMXN - ShortHello, traders.
This potential has the potential to go lower to complete its head-and-shoulder pattern.
If you have a similar trade, please comment below.
Good luck :)
USDMXN!We see a continuation pattern that symbolises of a possible upmove.
It could be bigger than it looks.
Trade with care use a stop loss.
USDMXN!We see price is setting up a big move against the dollar.
This could be a bearish structure that indicates a quick impulse is coming.
Trade with care use a stop loss.
ShortEasy structure, probability high
Divergence, bollinger bands. Higher frame consolidation, nice potential for the move down
USDMXN: SELLBased on our Fibonacci drawn from high to low on this daily time frame, we can clearly see that price has stopped at an entry zone for bears. Another confluence for this entry zone is the horizontal line drawn at the 61.8 level of the Fib, and as you can see price has touched this area a few times now. If you take this idea, make sure to set your stop losses based off of your risk management plan, and expect for take profit levels to be around 19.0706 and 18.7472 .
usdmxn ready for wavcAs we can see in the chart, we see a triangle in the invisible wave that is likely to break from below
