USDMXN is coming out of a bullish reversal contraction which has found support at an important DC level 18.89460, only then can we focus on trading till the TP levels (green).
The main two resistances price action needs to break are 19.04180 and 19.12485.
TP #1 - 19.27560 ( pips 3299 / RR 2.27 ) our profit target
TP #2 - 19.36510 ( pips 4190 / RR 2.90 )
We have seen ZAR very weak recently due to heavy RISK OFF and some weak zar data.
I'm anticipating a RISK ON week which will see ZAR gain some strength, we, have weak PMI data during this week which will give us our prime level to sell
I have 3 TP's set for this trade
TP 1 - 15.17456
TP 2 - 15.02576
TP 3 - 14.64768
Off the beaten track with an "EM exotic" trade.. and the first idea on this pair on tradingview
PLNHUF breaking and having repeated closes below 2018 low opening up a move down to 72 area and potential retest of 2017s low 70 area
Price has tested the downwards channel multiple times then broke to the upside where it has hit our price zone. price should reverse
TP 1 - 9.27954
TP 2 - 9.21655
TP 3 - 9.13943
SL - 9.34018
have a great day guys, please use correct risk management
USDTRY is a very tricky exotic pair to tackle. The exotics on the whole are erratic and offer may traps and false breakouts. This is a dangerous pair and not recommended for those without experience of exotics.
On this occasion I'm departing from my system of 'rules' because I'm dealing with such a wild 'animal'. I have experience of exotics doing false...
Last post: May 21st. See chart .
Review: Price had broken support and confirmed a bear flag.
Update: Price has continued to weaken. A break and close of Wednesday's support is now needed.
Conclusion: A break and close below support will suggest weakness towards the round number 20.00.
Any comments or questions, do not hesitate to leave them below. Hit...