This is a full breakdown of my perception of Price action on higher time frames! I take my entries using smaller time frame confirmation and you should too. If you have any questions about this trade or my strategies feel free to ask them in the comment section below!
Good Luck!!!!!!!!!!!
USDMXN is currently correcting towards the golden Fibonacci retracement of the last impulse wave to the downside. This follows the completion of corrective minor wave 4.
It could be then followed by a final 5th impulse leg in the minor degree, eying the 100% Fibonacci extension of waves 1 and 2, near 18.34.
We got an interesting set up here, the price has just broke a monthly triangle pattern, testing the broken line with some good rejects and making a corrective structure and broking it too, now i would like to see a testing of the recent broke structure with a bearish candlestick pattern to confirm that price is going down.
If you want complete analysis and...
This is a full breakdown of my perception of Price action on higher time frames! I take my entries using smaller time frame confirmation and you should too. If you have any questions about this trade or my strategies feel free to ask them in the comment section below!
Good Luck!!!!!!!!!!!
This is a full breakdown of my perception of Price action on higher time frames! I take my entries using smaller time frame confirmation and you should too. If you have any questions about this trade or my strategies feel free to ask them in the comment section below!
Good Luck!!!!!!!!!!!
USDMXN is coming out of a bullish reversal contraction which has found support at an important DC level 18.89460, only then can we focus on trading till the TP levels (green).
The main two resistances price action needs to break are 19.04180 and 19.12485.
TP #1 - 19.27560 ( pips 3299 / RR 2.27 ) our profit target
TP #2 - 19.36510 ( pips 4190 / RR 2.90 )
SL -...
I am expecting DXY to head above 102.00 so with a bullish USD & the new UMCA trade deal that Trump got done I am very bullish on the USD Index until 102.00.
USDMXN rebound from strong demand zone on H4 frame
Price broke downtrendline
Trading above Moving average 100
It's expected to go upwards to the level 19.21
then price will throwback to get the target at HVN near level 19.5588
Trump was impeached yesterday and lost! But the trial timing remains in doubt, keeping parties on their toes!
Meanwhile, BoJ kept interest rates unchanged overnight and now we have to wait and see if BoE adds to the downside risks on #no-deal fears, or encourage bulls with a rather hawkish stance?
I talk about all that in today’s market insights while analysing...
Regarding the American Dollar against the Mexican Peso, I believe even though there is a possibility of price still going up towards 19.02, we should see a further downward push on a short term. My personal goal for this trade is just around 50 pips.
The price is in the big triangle now.
It can be a few more movements in this figure.
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