Entered short in January '17 @23,01, been holding it since then and am now looking to add on in the coming months for wave 5. First add on to the short was @21,55 end of august. Next levels will be @22,01 for a quarter position, @22,30 for half a position and @22,57 for a full position if it even gets back up there.
Soft targets will be between retest of wave 3...
Chart of EURMXN is leaning to the upper side of a formation, which was built right below the intermediate term high from May 2017. In case, current previous day's high is broken, we may see development of a short-term ascending rally toward the target area.
While this pair hasn't respected it's long term channel too well - especially around the election - it has been in a strong up channel for the last 2 years. Friday's candle suggests that this pair will be bouncing off of the upper side of the channel in the short term. Be aware, this is a counter trend trade, so place your stop loss especially tight.
Hi guys,
I believe this will be a nice sell. It is setting nicely up on the 240 so looking for a sell set up is probably a good idea.
Thank you for your support.
the mexican peso has been really strong for the last few week's.
especially against the euro, but also against the us-dollar.
i expect a moderate correction for now
to form the right shoulder of a HS reversal formation.
