If we take the time to think about certain things, we come to the conclusion that to "leave run" too much our trades, equals to buy expensive and sell cheap during the process... and that is not a good thing...
Under my point of view, in the USDMXN chart the technical analysis have not too much sense, but the "fundamentals" like the fact of Mexico was dispossessed of his oil, makes the recovering unlikely and the shorts limited. If we add the actual possibility of the fx market correction against the usdollar, gives me the setup for buy the pair but trading the range. If...
To buy on a bottom of channels always is better idea than buy on top. In this case there are a doble fake with and small gartley on that zone. So I go long.
Please note that I use the fibonacci levels in a "sui generis" mode, normally I do it.
