kavi.e
Long

PESO! PESO! PESO!

FX:USDMXN   U.S. Dollar/Mexican Peso
55 6 3
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
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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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
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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elliott wave principle key to market behavior by frost and prechter & encyclopedia of chart patterns thomas n. bulkowski
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Thank you so much... Definitely going to read them both!
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