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Real recession incoming, you can smell it in the air. We are due for a huge correction.
Expecting a pump to resistance at around $17.50, thereafter one final drop to ~16.80 and an extreme pump after. $30 by 2028, you heard it here first.
big bull run idea off weekly support to weekly resistance. We saw a break of the 88.6 fib level. I expect a retest and continuation. This opportunity is a long term swing there will be several opportunities to leverage more entries as we continue up
Market trading on HTF Supply zone and looking for sell as i shown in picture waiting for confirmation.
Our short term sell can look for a bullish price movement towards the upside before we head any lower.
I anticipate the antiglobalism movement will enrich Mexico for cheap labor (unless Trump gets elected then the Peso will melt down due to the tariffs) where China is already passing our own tariffs by exporting to Mexico where it gets a new shiny label and tariffs don't apply. I believe a billionaire has made moves to gather up the trucking and logistic companies...
I was down in Mexico over the past week and most people were commenting about how weak the dollar was against the Peso.
While I was there, the dollar made a move from the low SWB:16S to $18. Most people kept saying that if it gets to $18-$20, you should sell your dollars to buy more pesos, because the dollar will decline against the peso over the long term....
I believe in the coming few years the peso will go back to $18
Will be consistently looking to long USDMXN
Interest rates of the peso will be reduced, albeit slowly.
I think trump will be back in office which will affect the peso significantly.
Price action wise 16.4 looks like a favourable entry from previous respect of this level on higher timeframe.
0.5%-1% risk
There's nothing special with this setup, the price has just broken the slanting Trendline and came back to retest, and from the theories of Break and Re-test, this points upstairs. And so, I think we're going upside. Loss and Profit parameters are clearly shown. This is what I think with this Mexican Peso.
USDMXN Daily Chart Falling Wedge with Bullish Divergence on Daily Chart
Buy Stop Placed above the LH with SL below the Lows
TPs calculated based on the falling wedge pattern width
1:1 and 1:2 RR Trade = 1.5RR Total
Hey Traders,
After the 38.2 % retracement on the USDMXN you haven't quite felt the full force of the fall.
That being there is still room for very long term support.
Here are my wider outlook zones for entries/exits.
Never seen before the uptrend tendency was broken? looks like yes, lest follow our trade from 2 year now and still goin in the same direction. the nest stop will follow the 14.95 ? that's our psychological focus.
Weekly:
-Bearish Weekly imbalance.
-Sellside liquidity acting as magnet for price.
Daily:
-Impulse and correction pattern.
-Bearish daily imbalance.
4H:
-Close below the last bullish imbalance is the confirmation to take shorts.
According with the waves count and considering that we are in a supply zone, we have a long opportunity with this pair.
We will wait the confirmation in lowers timeframes to set our SL
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The US Federal Reserve has kept interest rates steady at 5.25%-5.50% while continuing its balance sheet reduction as planned since May 2023.
In contrast, the Bank of Mexico (Banxico) might announce a rate cut tomorrow.
It's anticipated that Banxico could decrease its interest rate from 11.25% to 11%, potentially applying pressure on the Mexican peso. This...
