USDMXN. Buy opportunity.

FX:USDMXN   U.S. Dollar / Mexican Peso
We have yet another good trade setup here. It's not the perfect inverse Head and Shoulders , but that bullish flag on the shoulder makes up for it and it also retraced at the golden ratio, which is the 61.8 percent. If we get an upward break of the bullish flag , we will probably see a rally that takes us to the 1.618 extension .
Reasons for the trade:
1. Bullish flag
2. Inverse Head and Shoulders
3. 61.8 Fibonacci retracement


after Trump tweets about good news with Mexico, is this still valid ? or the MXN going to be stronger ?
+1 Reply
@zALAIN, yes the peso will be stronger there is no doubt
@zALAIN, Technically, it's still valid. But, it does seem like the Peso is regaining strength. I guess only time will tell what happens with this pair.
zALAIN KatlehoMaleka
@KatlehoMaleka, any way the new president for Mexico will start his job 1-December , till that time, we may see 1 big drop for MXN
@zALAIN, That's very much possible. So far, so good.
buy buy buy
+1 Reply
Pls advisr trigger price for open position and stop loss and take profit?
KatlehoMaleka Naser_Khalafi
@Naser_Khalafi, Sorry for the late reply. It's not late for an entry as price is just breaking out of the flag. An ideal stop loss would be a couple of pips below the recent low, around 18.72. And take profit at the 1.618 extension, which is 19.98.
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