Hi Traders, Have a look at this idea and see how it can fit into your plan. Good luck! Fibz
We place two blue lines on the 4-hour chart starting at the highest high and lowest low, tracking the price congestion in the Mexican peso with lower highs and higher lows. The upward attempts at the Mexican peso moved further and further away from the upper line, while the lower ones struggled with the lower line until beating it on the third attempt at the end...
We continue to notice higher lows and lower highs, the medium-term trend is still on the upside fundamentally, but a break of the lower blue lines may lead to 22.80. I think it may correct to one of the bottom two blue lines again next week and I see a good long opportunity when the blue lines coincide with the .236 regression formed from 25.28 to 23.63 downtrend...
Forming Larger BearFlag for the downside. ThankYou
USD/MXN POSSIBLE HEAD AND SHOULDER CONTINUATION DOWN TREND ???
Wait for break to enter shorts FX:USDMXN FOREXCOM:USDMXN
USDMXN Trading Plan SELL - Riks Reward 1:3 & 1:2.5
OANDA:USDMXN has being on a uptrend roller coaster for the past few days and being showing sings of fake breakout but it's best to wait for the breakout and let it retest the trend line to be sure the uptrend is over. ____________________________________________________________ Traders! support this idea by giving it a thumbs up and HAPPY TRADING.
ENTRY: 19.20500 TP: 19.10000 TP2: 19.00000 TP3: 18.90000 SL: 19.40000 Chart time frame - 1D Time for reaching TP - 1-3D Follow, Like, Share or Comment Thanks on supporting! All best!
USDMXN Looking setup for sale. A very volatile instrument that will bring fast money in the third wave.
Price has finally broke the big daily rtange where it was sitting for 2 weeks and yesterday we jsut got a close below the bottom and tneck area of that double top too soight now im expecting atleast a drop to the 18.45 area
I see a bullish divergence at macd signal line on daily chart!!! Profit Targets: 18,86 18,97 19,13 Stop loss: 18,63 Have a nice day, Berk.
We still below a daily trendline. So we should see more of a drop on this exotic? See if this fits into your idea and follow if you like our ideas! Regards, FIBZ
According to S and R Level Mixed with Price Action
Regarding the American Dollar against the Mexican Peso, I believe even though there is a possibility of price still going up towards 19.02, we should see a further downward push on a short term. My personal goal for this trade is just around 50 pips.
Going LONG..Use smaller TF for entries..trade smart be Blessed
price just touched the upper trend line and we can see signs of rejection in the two previous daily candles, I am thinking we can see a bearish move here