FX:USDMXN   U.S. Dollar/Mexican Peso
55 6 3
alexcamargo
5 months ago
Hi! Today the Banxico announce that they raised the interest rates and the peso strengthen against the dollar. Going a solid low of 18.25. May ask you about your thoughts now?
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kavi.e PRO alexcamargo
5 months ago
my view on the chart is still the same, probably when it breaks the low, as shown in my snapshot, "cyan line" then i'll relook at it, not too sure about the effects on the interest rates tho, i personally dont trade the fundamentals, all my analysis are purely technical.

snapshot

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alexcamargo kavi.e
5 months ago
If i may ask... what type of analysis did you make to come with your conclusion? I'm a rookie trader and Im trying to understand a lil better...
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kavi.e PRO alexcamargo
5 months ago
Elliott waves, with a combination chart patterns and structures. for a start i suggest reading these books, & , there is way more to it, so yea, these are just the basics, but reading that would be a good start. to me atleast. all the best mate, trade with care.
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kavi.e PRO kavi.e
5 months ago
elliott wave principle key to market behavior by frost and prechter & encyclopedia of chart patterns thomas n. bulkowski
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alexcamargo kavi.e
5 months ago
Thank you so much... Definitely going to read them both!
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