This pair is rejecting the daily trend line as well as key support & resistance level by creating a pin in bar on 4 Hour time frame. Good time to enter a short trade as it may fall deep into the ocean soon!!
There is the USD/MXN: Butterfly Pattern in the context of a dollar rally and a long-term trend in the USD/MXN. Follow the trend....
Currency pairs are very cyclical unless there is something pulling one of the currencies away enough to break this cycle, such as a currency crisis. That is just one example.
simple Elliotwave count after a butt bottom reveral confirmation
Possible to see additional upside to 21.65s, strenght above that level then count is invalidated and needs redoing (higher target for waves!)
after a small continuation on the upside, expecting a reversal up to 21.35, most probable in the range of 21.43-21.47 before continuing to wave 5 to final...
WHILE WE ARE JUST ENTER TO THE LAST MONTH BEFORE THE ELECCTION .. NOW VOLATILITY IS THE NAME OF THE GAME ,
- RESURGENCE OF COVID IN EUROPE
EXPECT TO SEE STRONG MOVMENTS BOTH SIDES ..
MEANWHILE TRADE THE RANGE 21.90 - 21.00 ..
USD_MXN IS TESTING CHANNEL RESISTANCE AFTER DISREGARDING HORIZONTAL STRUCTURE
(1) Horizontal resistance disregarded. The channel lines were perfectly respected
(2) IF breakout is confirmed>>>
(if candle closes ABOVE the level)
(3) Long up to the next resistance.
(4) If not, a short looks good....
USDMXN beautifully touched monthly support and rejected with a daily bullish engulfing. I initiated buy on the next daily candle. Daily also shows bullish divergence on obv and we have been in an uptrend since 1999. Great long term setup looking for new highs on monthly. Lets see what happens considering everything going on in the world.
Leave a like and lmk what...
USDMXN started plummeting on USD weakness, because the american currency is the big driver of the pair, and not the MXN.
Recently we noticed that price was moving in a bearish wedge which is broken now. These patterns are mostly signaling reverse and medium to long term bullish scenarios, so plan ahead.
Below the last wick of the unlucky seller we would never...
Tenemos una estructura consolidada en la moneda nacional, por el momento nos encontramos en un punto crítico en donde o sigue cayendo con fuerza hasta niveles de 20.50 o rompemos estructura en una temporalidad menor para comenzar el rally a lo alto del canal.
In this analysis we will talk about a triangle pattern. Those who are familiar with them, will know that these are one of the most popular patterns. The reason why they are so interesting is because while they are unfolding, momentum is decreasing, volume is low, therefore everyone wants to catch the breakout, because we know that sooner or later...