I have been keeping an eye on this pair for a while now, last week I managed to buy small position at around 21.70 area I'm gradually adding a position to my existing one...good chance this pair might try to go down to the yellow support area (21.00 to 20.60) but for now the odds are against short and favor LONG. I have been killin' it on this pair since March and this is my third major trade for potentially big gains... I have attached all my analysis since early May... we are done with shorting this pair it's time we go LONG now!! Good Luck! comment your ideas below....
Thanks GTR19! I hope this trade is successful. 2 well respected traders in Mexico that I follow are also LONG on USDMXN which is a good thing. Their selling point or price target is $23.25 but if it breaks that level with force then they say it can go way further up. Their stop loss is at $21.90 level.
UnknownUnicorn4020772
⋅
@OSCARCOS, thanks for sharing your thoughts, I have relatively large account that I use for this pair only which means I can take big hits even if the price goes down... I'm looking at this pair from a long term perspective and I don't think MXN will recover soon... good luck!