USDMXN losing steam at Bearish Crab completion level
USDMXN
is drawing an ascending wedge which I think it's going to end by visiting either the 50 or 200 MA or the trendline support as well. This trade may take a while to develop, the last trade I made on this pair took 32 days to reach TP.
Trade active:
Sell limit was triggered today at 62.20
Stop loss 21.10
Take profit 19.71 - 19.21
Stop loss 21.10
Take profit 19.71 - 19.21
Comment:
Typographical mistake: Sell limit was triggered today at 20.62**
Trade active:
We have a double top in action, we might see some consolidation here, now is safe to short the USDMXN to 20.0 where price might find some support, but the most probable it will break it to the downside.
My trading plan for this pair the upcoming week is to short any pullback until 20 and expect a break below that level.
We have a double top in action, we might see some consolidation here, now is safe to short the USDMXN to 20.0 where price might find some support, but the most probable it will break it to the downside.
My trading plan for this pair the upcoming week is to short any pullback until 20 and expect a break below that level.
Comment:
The price has tumbled to support level after drawing a head and shoulders pattern and breaking its neckline, and is currently drawing a symmetrical triangle, my plan is to short any pullback or sell if price closes below $20.00 in the H1 chart.
Just as additional info: In the H4 chart we have a MACD bullish divergence.
The price has tumbled to support level after drawing a head and shoulders pattern and breaking its neckline, and is currently drawing a symmetrical triangle, my plan is to short any pullback or sell if price closes below $20.00 in the H1 chart.
Just as additional info: In the H4 chart we have a MACD bullish divergence.
Trade active:
Looking for sell opportunities for the incoming week. We have FOMC meetings on Wednesday so beware and trade them only if we have an attractive Risk Reward Trade: