USDMXN [Daily, Long]: Breakout, trend continuation
The trend on the USDMXN is a strong bullish trend, above 20MA.
For strong trends, I look for a entry on the breakout instead of a retracement against the 20MA as price hardly rallies back to the MA.
Entry: 20.576
Stop: 1ATR below previous candle low at 20.2128
Exit: Trail when price closes below the previous week candle low
For strong trends, I look for a entry on the breakout instead of a retracement against the 20MA as price hardly rallies back to the MA.
Entry: 20.576
Stop: 1ATR below previous candle low at 20.2128
Exit: Trail when price closes below the previous week candle low
Trade closed: stop reached:
1R loss