Trading Ideas
Watch for the USDMXN breakout
Sat, 19 Aug 2017 23:25:01 -0500
The next days will be decisive for FX_IDC:USDMXN now that NAFTA talks have officially begun. In the chart there are 4 relevant price levels (shown in bold green). And 2 short-term price levels (in thin red). If the price breaks the short-term resistance at 18.04 then we would likely see the price reaching 18.40 or even 19.28 if NAFTA negotiations don't favor Mexico. If the price breaks the short-term support at 17.48 then we may expect the price to reach the Pre-Trump support level at at 17.16. Events that would favor the first scenario would be: A full withdrawal from the NAFTA deal. While the second scenario would be more likely in the event of: A soft NAFTA "tweak". An increased feeling of a "Trump's failed agenda". An armed conflict between the US and North Korea. --- "In the business world, the rearview mirror is always clearer than the windshield. " - Warren Buffett
USDMXN Bearish Big Shadow at Resistance. going Short
Fri, 18 Aug 2017 14:29:02 -0500
Bearish big Shadow at resistance, potential move to the downside from the 17.8959-18.0384 Target at 1.87:1
Fri, 18 Aug 2017 06:08:23 -0500
I am still bearish and with that retest, I expect continue down
long usdmxn
Wed, 16 Aug 2017 12:46:05 -0500
long mxn
USDMXN short setup
Tue, 15 Aug 2017 15:23:19 -0500
I'd like to see another push up towards the most recent A-B 50% fib retracement level. It looks like price is merely correcting itself and will hit Resistance again before forming new lows.
USD/MXN 1H Chart: Channel Down
Tue, 15 Aug 2017 01:26:08 -0500
USD/MXN 1H Chart: Channel Down The American Dollar was trading against the Mexican Peso in a medium-term ascending channel. However, after a data release on the US CPI the buck entered into a seven hour downfall and lost 1.3% in value. Such depreciation led to appearance of the current short-term descending channel with two reaction highs and once reaction low. Since the pattern has not formed completely, the currency pair is expected to continue to move within it at least until the weekly S1 at 17.7187. Afterwards, a rebound might happen. On the other hand, by that time the rate might experience additional pressure from the approached 55-hour SMA, which could impede the climb upstairs. Finally, there is a need to take into account that due to narrowness of the channel it might be prematurely distorted by any news coming from North America.
USDMXN short
Mon, 14 Aug 2017 09:17:07 -0500
Possible ABCD wave pattern into play. Price has left wicks at the 62 fib retracement level for this A-B boundary presented on the Daily (going down). We also see a strong bearish candle from recent trading levels indicating sellers have entered.
Mon, 14 Aug 2017 03:24:32 -0500
Potential short if this pair able to close below last Friday's low.
Trade 24: Short USDMXN #FOREX
Sat, 12 Aug 2017 19:05:14 -0500
I have shorted USDMXN friday evening. As the price has broken latest swing low , in addition to the short term rising wedge. That happens within the context of the overall bearish trend that started from January High at 22.037. Short at: 17.8527 -- T1 : 17.6731 -- T2: 17.4557 ---- SL: 17.9495 For more details and all Stats Disclaimer: This is my trading experience, it is not an invite or recommendation to trade. Remember -Never risk more than 2% of your balance on a single trade. And If you are a beginner 1%. -A Single or few trades result is not important. Whats important is the net return at the end of the month, quarter and year. Best Technician
Fri, 11 Aug 2017 11:44:51 -0500
Maybe another leg to the downside £
USD/MXN 1H Chart: Channel Up
Thu, 10 Aug 2017 02:44:05 -0500
USD/MXN 1H Chart: Channel Up The American Dollar is appreciating against the Mexican Peso in a medium-term and short-term ascending channels. At the moment, the channel consists of three reaction highs and three reaction lows and, thus, might be cease to exist in the upcoming days. The fact that the currency pair is gradually approaching to the lower trend-line of the senior channel indicates on validity of such scenario. The slip to the bottom seems unlikely because the rate proved to be quite sensitive to the 55- and 100-hour SMAs, which are moving along the pattern. A number of technical indicators also vote for an ascending movement. On the other hand, 60% of traders remain bearish on this currency pair. In addition, there is a need to take into account an impact from a release of the US macroeconomic data today and tomorrow.
Thu, 10 Aug 2017 01:16:56 -0500
TP : 18.1500 , 18.3300 SL : 17.8000
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