USD/MXN - Bullish Shark Long

USD/MXNOANDA

Description

⋅ Apr 5, 2017 7:58 PM

Hello traders, here we have USD/MXN with a bullish shark pattern on the 4h chart.

This is an excellent buying opportunity with over 1:3 risk to reward, don't miss out on this one!

The measurements for a valid shark are detailed below.
C: 1.13 - 1.618
D: 1.618 - 2.24
Final X to D: 0.886 - 1.13

This pattern could potentially turn into a 5-0 in the near future.

Feel free to connect with me below :)

Comments

DeanT

⋅ Apr 19, 2017 4:06 PM

Blast off !!

LewisGlasgow

⋅ Apr 19, 2017 4:07 PM

@DeanT, only a matter of time until that happened!

TyphooN-

⋅ Apr 12, 2017 10:12 PM

We hit 18.53 - I also see the following patterns: Bullish Deep Crab and Bullish Butterfly:

I think we will see the pair respect 1 of these patterns, or break the long term descending wedge. Great entry spot :)

LewisGlasgow

⋅ Apr 12, 2017 10:14 PM

@TyphooN-, great analysis and thanks for sharing! I'm going to keep an eye on it now that price has hit the reversal zone.

TyphooN-

⋅ Apr 12, 2017 10:18 PM

@LewisGlasgow, DXY also seems to be showing signs of recovery from it's huge move:

Best of luck to all of those who trade this - I think it is a great low risk:reward setup

LewisGlasgow

⋅ Apr 12, 2017 10:26 PM

@TyphooN-, definitely! All the best to you too man :)

depinz

⋅ Apr 5, 2017 8:32 PM

I missed the entry point but looks like an excellent trade... between the time you posted it (18.76500) and now it's already at 18.7930.

LewisGlasgow

⋅ Apr 5, 2017 9:09 PM

@depinz, it'll move quick, expecting a big return on this one.

MaffeProg

⋅ Apr 5, 2017 8:17 PM

Thnx It looks a like an awesome trade good luck!

LewisGlasgow

⋅ Apr 5, 2017 8:19 PM

@MaffeProg, thank you very much.