pantheo

Mexican peso approaching D

FX:USDMXN   U.S. Dollar/Mexican Peso
33 2 2
Possible bearish butterfly
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IvanLabrie PRO
9 months ago
What kind of entry would you use here?
Or did you wait for it to turn to enter short on pullback?
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pantheo PRO IvanLabrie
9 months ago
Thnks Ivan. Good job. Dollar is working on a possible bullish bat and already met first target, so a high around 99.50 - 100 should be expected. Sentiment wise also is approaching low levels which is bullish. In complex cases like this I watch PA inside supply zone and If a reversal sign is obvious, with good R/R and high probability, I'm building short positions manually inside this area. If Euro breaks 1.1070 convincingly on the weekly level, lots of money will be in the long dollar trade, hence it will drive this pair too higher, maybe around D again to gun the shorts. Carstens did a great job though:-)
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