Let's go, we caught the last drop, it is still bearish today, with vol dropping. and the lower high.
This may come to fruition next week, so this week I'll be looking into opening positions at the right place.
Followup to the plans (below). If you followed you have nice short entries running right now.
I bagged some profit yesterday, and the bearish trend is still strong with DXY showing short term weakness in its bullishness. We might get MXN at the top end of the range soon, looking forward to shorting this again.
Background bearish signal is getting stronger as it is approaching the top end of the range. Volatility is still notably high and it is decelerating. Usually this happens when approaching the top end of the range due to volume balancing.
I will wait to short more at the top of the range.
Good luck out there
Follow up to the yesterday's plan (link below).
Vol is slowly dropping and the price is getting closer to the top end of the range. I will look into shorting incrementally. And the plan might come to fruition next weeks, let's see how this goes
With slow raising volatility and getting close to the top end of the range is a good setup to start thinking about shorts. Let's see how this goes, I will update here as soon as the signal confirms.
As we zoom out and look closely at the Mexican Peso, we see many signs of strength that have been building for some time now. I believe the MXN and many other emerging currencies are all showing similar signs of strength and in the process of a reversal. While this may provide a great long trade and a short-term boost to the Peso, I fear it will have long-term...
The Peso experienced a long period of depreciation. It's time to welcome Joe biden, liberate the MXN and support exports.
I draw your attention to this wonderful buying signal.
The golden point in all its majesty !
You can see the down green holizontal line, that is the strong and valid support rejection. This means the market hardly closes this line and when it does, you sell only within red prtion or rectangle. only when the bearish candle breaks the line. If the next candle is bullish, do buy within the green rectangle or portion.