I saw this movie before on USDindex, a bat pattern on W1 chart:
Then i pinpointed the entry on H4 chart:
Here we can see a perfect bat pattern with the confluence of the 1.61 fib projection and the 1.61 fib extension. This is powerful.
I will be looking to sell near that area, if this setup works will cover my previous loss on this pair and much much...
I think today we had the confirmation to short this wedge-ending diagonal
Price is rejecting strongly from the trenline resistance forming pinbars+engulfing bearish candle
We have also a double divergece on MACD
A gap is expected to be filled.
I will short this pair for sure on market opening!!!
Happy weekend
Here we have a very solid Gartley pattern form,ed and completed in both the negative deviation of the last 100 and 200 moves. Like with all harmonic patterns i have placed my entry and stops as follows :
Limit: 1.618 extension of BC , which meets at where both the 200 move regression and the 100 move positive deviation cross
Entry at point B
Stop at point...
At double top 2009 high resistance, price is consolidating in a Triangle closing in, with potential abcde resolution, before 5th wave completion, to the upside, at triangle measured target, Fib extension.
Brake_out, to the downside, targets the support level.
RSI geometry.
According to the fact of the Fibo, and Support Resistance on a bearish trend, i am persuading about short on USDMXN
Fibos:Retracement, follow 2 pullbacks, and bearish trend, on a 1 day chart,
Position Short on 15.21
Exit on 14.98
if support is broken@ 14.98 Exit on 14.70
Low Risk , Ready To Pull Some Pips.
Looks like the pair has moved back from a multi year resistance level (weekly & monthly charts) of 15.60. It is now trading below the 100 day and if close below trendline support at 15.00, look for a test of 14.75 and then 14.50 in the upcoming weeks
I am just beginning a study into the USDMXN, I have stayed away from these more volatile pairs for a little while however the technicals are beginning to look quite good.
The pair is approaching a break of trend-line on the daily chart having completed a bearish engulfing candlestick on the weekly.
The MACD indicator has turned lower and is quite close to zero, it...
We could have a bearish gartley pattern for USDMXN . SL above 15.61 on a daily close
6 Trading Rules :
1. Never add to a losing position .
2. Don´t be the first to buy low and sell high .
3. Think like a fundamentalist, trade like a technician .
4. Keep your analysis simple
5. Start small and increase exposure when trend is confirming your analysis
6. The...
A geo is playing out here, propelled by a weaker USD. The traditional 1-4 Line is foregone, and instead it has been supplanted by a more conservative Alt. 1-4 Line, created from the "Geo Anchoring" concept discussed in prior analysis, defined therein by the GREEN asterix.
A Predictive/Forecasting Model has not been submitted for target definition at this...
USDMXN on positive NFP #'s rallied to test the historic highs around 15.5000. I have a pending sell @ 15.5950 which is very close to this week's R1 and looking to target this week's weekly pivot or better yet the past level of resistance around 15.2. The MXN gets the blood pumping but typically does amazing technical things.
The weekly chart shows the importance of these breakouts This is a trade worth playing for two reasons : the accuracy of the false breakouts and the carry you will get by shorting this.
The daily chart shows two huge kangaroo tails and a bearish divergence on the MACD histogram. Considering the weekly chart, I believe this is enough for a short. I was saying on...
Price looks like beeing squeezed in a triangle between 2 opposites trends.
Market is undecided, outcome is coming. Prepare to choose the right trend within a couple of month. With probably a nice brakeout.
My bet is that the outcome will be NORTH as
* 12.93 is a 50% fibo support
* Longer term uptrend will play out
* USD becomes stronger on the market
