USDMXN Short (Bearish Div on 1h chart)

See callout bubbles. We're currently in this trade Short, but I thought that it would be good to share some of the things that I use for confirmation, such as looking for Divergence on the RSI indicator. Currently, price has come into our supply zone and it looks as though the buyers are losing strength. RSI on the 1h chart would confirm this as we see price making higher highs and the RSI printing *roughly* the same highs. This is a bearish signal and gives me confirmation that price may be headed lower.

Stay tuned for updates!

Always measure your risk and be okay with being wrong ; )

Trade active:

USDMXN still in out zone. NFP's didn't blow us out. Zone is still holding. Let's just keep it on and see what we get next week. I'm expecting USD weakness.

Comment:

This one has come again us a little bit, but its still at a level where expect sellers to be stronger than buyers. Hanging in there.

Always measure your risk and be okay with being wrong ; )

Trade closed: stop reached:

This one was closed out for a small loss. USD looking stronger than expected. Will look to join the trend or possibly go short a little higher up ; )

Always measure your risk and be okay with being wrong ; )