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asiansupermarket
Mar 3, 2016 1:54 PM

USDMXN 1hr 1mo descending wedge breakout 

U.S. Dollar/Mexican PesoFXCM

Description

A short side breakout will be a sharp drop; long side will be a slow grind higher. Range is tightening as shown by the clumping moving averages.

Trade active

17.74658 short fill

Trade closed: stop reached

17.83 close

Comment

Still possible for another attempt at a breakout

Trade active

17.7280 short fill

Trade closed: stop reached

17.8429 stop and position reversal

Comment

This poorly drawn bottom part of the wedge cost me 2 trades, but third time looks like the charm

Trade closed: stop reached

Losses could have been avoided by moving SL to breakeven but sadly I was out this week. Have to take this one on the chin.

Comment

17.67 stop
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