Well, what do we have here? I'm seeing a 4-hour-chart based uptrend already broken, this pair is going down I think, but first it has to re-test that trendline, let's see what happens. Any comments?
Well, what do we have here? I'm seeing a 4-hour-chart based uptrend already broken, this pair is going down I think, but first it has to re-test that trendline, let's see what happens. Any comments? PS: I'm really ashamed, I used the word 'breaked' instead 'broke' hahaha my bad.
USDMXN appears to have formed a Bearish Flag pattern (consolidation). This should mean that another bearish impulse lower.
USDMXN broke the Daily support in 18/18.2 area. I setup a trade with an EP at 18.04 SL at 18.2 TP at 17.65
Im going in for a sell setup on USDMXN Looks like it keeps testing the previous resistance.
We need to see how it reacts to the 18.65000 support if it holds make the trade to a target 18.90000. If it breaks wait to slow down the down to the 18.50000 support.
4 hour Rsi approaching overbought. 1 hour is already overbought. USDMxn also approaching major resistance at 17.94ish. I think it will tap that resistance line then run down for a beautiful end of week trade. I have my sell order set at 17.9 and alerts set for a break of either line. If it breaks the trend before it hits my sell order I will handle it manually.
I Shorted USDMXN at the break of the trend line last night before i went to bed, and woke up to a wonderful +$500. It is in a down trend on the larger time frame, so I expect it to keep moving down. Be mindful of the mini S/R line and expect a possible bounce there which could even take it back up to 17.54 where the top of the trend is. If it breaks the trend...