USD/MXN Quick Analysis (Using Supply and Demand Method)
The Price is now moving up to the Supply Level as you can see in the Chart. The Market has created two Equal Highs, R1 and R2. These two Equal Highs form a Fake Resistance Level also called the Fake Out Zone line (FOZ Line).
The Banks and the Big Institutions are preparing to clear the highs and the stop loss of retail traders who are in sells. A lot of traders have already joined the Buy movement.
We can see the Price Compressing up to the Supply Zone. All Supply and Demand Traders know that every gap or void must be filled.
We have a very Strong Confluence of Resistance in the 23.10 - 23.35 area. This Area has been tested only once, so we have a Fresh Supply level in this area which means a lot of Unfilled Sell Orders are still here.
This is the Real Resistance. Our Sell Area is the Red Circle in the Chart. So we will set our Pending Order and wait for price to get there..🙏🙏
Strong Confluence of Resistance (Three Types of Resistance):
Strong Verified Horizontal Resistance at 23.18 - 23.33
Pivot Point Resistance 3 (R3) at 22.97
38.2% Fibonacci Resistance Level (Daily Chart) at 23.00
The Banks and the Big Institutions are preparing to clear the highs and the stop loss of retail traders who are in sells. A lot of traders have already joined the Buy movement.
We can see the Price Compressing up to the Supply Zone. All Supply and Demand Traders know that every gap or void must be filled.
We have a very Strong Confluence of Resistance in the 23.10 - 23.35 area. This Area has been tested only once, so we have a Fresh Supply level in this area which means a lot of Unfilled Sell Orders are still here.
This is the Real Resistance. Our Sell Area is the Red Circle in the Chart. So we will set our Pending Order and wait for price to get there..🙏🙏
Strong Confluence of Resistance (Three Types of Resistance):
Strong Verified Horizontal Resistance at 23.18 - 23.33
Pivot Point Resistance 3 (R3) at 22.97
38.2% Fibonacci Resistance Level (Daily Chart) at 23.00