USDMXN 25/03/2024 Short

USD/MXNOANDA

Description

⋅ Mar 25, 2024 1:18 PM

Weekly:

-Bearish Weekly imbalance.
-Sellside liquidity acting as magnet for price.

Daily:

-Impulse and correction pattern.
-Bearish daily imbalance.

4H:

-Close below the last bullish imbalance is the confirmation to take shorts.

⋅ Mar 27, 2024 10:55 AM

Comments

TheFxAce

⋅ Mar 26, 2024 11:30 AM

Based on the simple risks you’ve outlined, selling seems like the right move.

Geekychasmish

⋅ Mar 25, 2024 7:45 PM

Hi, if it takes a close above 16.70 should we assume it will have a triple bottom confirmation? Uptrend coming?

HANSFXTRADER

⋅ Mar 25, 2024 8:51 PM

@Geekychasmish, Hello! Not really, if you look to the weekly and daily timeframe I am still expecting a drop to the sellside liquidity.