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PA-FX

USDMXN Possible bullish reversal

Long
U.S. Dollar / Mexican Peso (FX:USDMXN)  
PA-FX Updated   
FX:USDMXN   U.S. Dollar / Mexican Peso
Trend Analysis Support and Resistance Pivot Points USDMXN usdmxnlong usdmxnbreakout usdmxnidea
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trendanalysis supportandresistance pivotpoints usdmxn usdmxnlong usdmxnbreakout usdmxnidea
USDMXN broke out of the one month long consolidation, we now have a possible bullish reversal and we can try to catch this retest for a long trade in the kill zone as shown in the chart above. Target one is as shown in chart but there more upside if we break above that level as well
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Now a nice bullish engulfing pin bar at the retest on 200 MA, MPP, DPP and 38,2 fib.
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Double bottom on previous broken structure and looking to see if this TL will get broken.
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So far so good, we reached ADR high now so it should correct some down.
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The comment above had the wrong chart :D
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USDMXN do a deep correction and as far as no break below previous low as shown in the chart it is still a valid idea.
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For those who still in this trade, if we get a daily close below S1 of today that will invalid the longer term long, i hope you guys managed to get some pips out of the first two bounces
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sorry the comment above had the wrong chart :)
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