EWW Mexico double bottom

AMEX:EWW   iShares Inc iShares MSCI Mexico ETF
Looks to me like it's headed towards another bottom. No reason why it should go up anyways, their whole country was downgraded last week.

If Feds don't cut rates, this will tank on the currency exchange alone.
Trade closed manually: Hosed.
Trade active: Feels like I'm chasing this a bit, but with nothing else to short, I'm at it again.

Next week's puts.
Trade closed manually: Decided to go into Brazil puts (EWZ). Figured I don't want a huge short position, so I closed this one out with a very small gain.
Comment: Haven't played with this in a while, but timing indicates another gap up Monday, a bull flag dip for a couple of days and rally into the Fed meeting.

If the Feds don't cut rates (which I do not expect them to) then the dollar will go up. This ETF is not currency hedged so if USD/MXN goes up, this goes down....

You can see USD/MXN coiling on the monthly chart, pay attention to the exchange rate if you're in this long term.

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.