Pattern: Triangle/ emerging Channel Down on 1D. Signal: Sell as the RSI is replicating a sharp drop fractal. Target: 21.600 (just above the Support). ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** Most recent USDMXN signal:
It is worthy to state that the Peso continues to ride high on the back of a weaker US dollar. Following my last publication (see link below) on this pair; we have found a complete retracement of AB leg which culminates at 61.8 with a strong tendency to make an extension within 127.2 and 141.4. Tendency: Downtrend ( Bearish ) Structure: ...
Peso follows the step of the Yuan against the Greenback! Tendency: Downtrend ( Bearish ) Structure: Breakdown | Trendline | Support & Resistance Observation: i. Price moves below support area @ 22.66000 affirms Breakdown structure with indications that the potential for the price to start trending downward is increasing. ii. Price trailing the Bullish Trendline...
price made an impulse move downward and then completed correction. now that it has broke the bearish pennant, wait for sell entry after confirmation. And target is till next swing low.
Wait for break to enter shorts FX:USDMXN FOREXCOM:USDMXN
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Pattern: 1M Triangle. Signal: Bearish towards a new Higher High (dashed line). Bullish once a bottom is made on that zone. Target: Once the bottom is made, the bullish target should be the 0.786 Fibonacci retracement (worked on all previous instances). Indicative price = 20.0000.
Pattern: 1W Triangle. Signal: Bullish based on a similar fractal sequence of the Higher Low line. Target: 20.3500 (Triangle's Lower High at -1.42%).