3 reasons to short Short

U.S. Dollar/Mexican PesoFXCM

Description

⋅ Sep 26, 2013 10:09 PM

fib counflence, bearish divergence, bearish candle stick.
below the yellow line potenial for more downside.

Comments

motleifaul

⋅ Sep 27, 2013 1:13 PM

Any reason doesn't help when the market thinks different. Shouldn't you better close this position as I did?

traderWgun

⋅ Sep 27, 2013 5:09 PM

yes the market has a will of it own. I got stopped out at 13.12.

motleifaul

⋅ Sep 26, 2013 10:11 PM

3 good reasons.

QuantitativeExhaustion

⋅ Sep 26, 2013 10:10 PM

This defies what most traders think will happen. Most traders are thinking peso higher, while US equities lower.

traderWgun

⋅ Sep 26, 2013 10:31 PM

aware of this, but 1 most trades are wrong 2 youhave to do your own homewok 3 this is short term, long term this could still be bullish

QuantitativeExhaustion

⋅ Sep 26, 2013 10:32 PM

Short term bearish I agree. Shake out weaker players over the next few days. Thinking sometime first week of October Peso resumes bullish trend.