Downside Pullback Imminent

FX:USDMXN   U.S. Dollar / Mexican Peso
62 2 1

There is now plenty of room/potential for USDMXN             to fall like a stone... (Even just a small pullback to the downside will be significant in terms of pips...)

This is a pair which I will now be eyeing for Short opportunities/signals only.

The following are other pairs, which are inside my "hot-list" currently:

NZDCAD             0.21% (Short)

GBPNZD             -0.35% (Long)

GBPUSD             0.05% (Long)

USDMXN             0.46% (Short)

EURMXN             0.35% (Short)

EURNZD             -0.46% (Long)

AUDNZD             0.20% (Long)

*For each of the above pairs; I will be looking out strictly either for the Long or Short opportunities only (in the 5mins chart; I will get in once I received a signal & then be ready to secure the trade with BE-SL or TL-SL, & then just let the trade run; if I should get stopped-out; then I will keep on re-entering again & again on-signal-based).

Best regards.
Comment: This pair is currently having a "weak" sell signal (in the 5mins chart); but I will need to wait for it to be more convincing (hopefully coming Monday); then only I will enter a Short position...

Best regards.
Comment: In case if you are curious as to "what shall be a Sell signal?"

- The most "simple" method will be to use Heiken-Ashi Candlesticks; just lookout for a series of red-color candlesticks formation (in higher timeframes like the 1hr chart for example) - to have a confirmation for a Short.

- Another method is to use ZigZags (indicator); I personally use a series of custom ZigZags that defines the primary wave & also the secondary waves; so if the primary wave is down, then I can wait for a secondary wave to form upwards - to Short a upwards pullback/retracement/correction; for the main trade down (the primary wave direction). The ZigZags (2 sets) must be customized/set correctly, appropriately, & accurately.

- Another option is to use moving average(s) (which must also be set correctly, appropriately, & accurately). I personally use my own custom moving averages (such as the Non Lag Moving Average Version 6) on higher timeframes like the 1hr chart; together with the Heiken Ashi candlesticks if you need to.

Comment: Forgot to mention above that my custom ZigZags works quite perfectly in the 5mins chart (zoomed all the way out); it is by far the best timeframe for a confirmation signal, for the pairs of ZigZags that I'm currently using, based on my experience.

what would be a good entry point?
I will say 19.51280 - (at the all time high/resistance)

EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out