USDMXN is near to major support. It could move upwards. Any comments are welcome.
USDMXN pulled back with @20.84508 which we could consider this level as a critical zone , for now my expectation for that pair is rising @21.85864
Anyways we have to wait for a confirmation
The 21 zone is strong support for UsdMxn and also the drop from 21.80 is contained in a falling wedge pattern I strongly believe that 21 will hold and a break above the descending trend-line of the wedge would accelerate losses for Mexican Peso. A buy trade for this pair could have a 1:3 R:R
Backtest results : prnt.sc Icons on the chart Thumbs up : Trade was a win Thumbs down : Trade was a loss Circle with a cross : Trade was breakeven Cross : Did not take the trade due to presence of liquidity (equal highs/lows) behind the stop loss Variables Avg winner = 1.6R Strategy : wait for market structure break, then trade the retest of that zone. Zone is...
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Al clonar la líneas de tendencia se ve como son líneas paralelas las que confirman un gran triángulo en el cual se ha encontrado rebotando el tipo de cambio dólar peso.
Hello Traders USDMXN now in Subwave 3 of Wave 5. A more bearish trend following the downtrend channel FX:USDMXN
Heading to $20.00
Technical outlook Bearish scenario Since 24.03.2020 the pair is developing a bearish trend. Currently, the price is below 9 days EMA in conjunction with the pin bar that formed yesterday (15.10.2020). From technical point of view the first target for on the downside should be 20.8755 and if this level falls the long-term resistance around 20.40. Bullish...
USDMXN on the daily chart is perfectly moving inside a daily channel. The price has just broken the daily support, if there will be a retest of it we can set a nice short order according to Plancton's strategy ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily...
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