GBPMXN is an exotic pair that is very high risk - but also very rewarding if you find the right entry point and are prepared to lose big time.
Losing? Big time? Ooops - nobody want so hear about that! Right? LOL.
I was taken out for a major loss a couple months ago, as I did not appreciate how violent this pair is. But.. but I've learned a lot in the last two...
GBPMXN (weekly) chart is showing some interesting features, which lead me to be long on lower time frames.
There is some sort of triangle, wedge, or pennant following breakout.
The pattern is holding above a level of support (at this time).
Based on experience, this creates a probability for further moves north.
The Aroon is showing that the bulls are still...
Price on GBPMXN is at a possible band of horizontal support. But at least it is an important structure level.
Price has also broken the 200 EMA on the weekly chart. However, it has recovered in the in recent months from such a level.
Disclaimer: This is not a recommendation or encouragement to take a position, or invest any money. GBPMXN makes both...