-Introduction-
USDMXN has arrived at the support area of 19.600 ~ 19.800. This is a strong support level, as we can see many times the price has bounced up from this level. Observing closely in daily chart , we could see that before a bounce from the support area , almost all prices formed a kind of a bullish candlestick pattern. After the bounce, we could spot price moving in a range for about two to three months. Therefore, we will be looking for buy opportunities from the support level .
-Trading Plan-
From the support level, the price has formed several doji stars. We can also spot a bullish divergence in RSI. Therefore, we have entered our swing long entries.
Check out our previous USDMXN trading plan below :)
USDMXN has arrived at the support area of 19.600 ~ 19.800. This is a strong support level, as we can see many times the price has bounced up from this level. Observing closely in daily chart , we could see that before a bounce from the support area , almost all prices formed a kind of a bullish candlestick pattern. After the bounce, we could spot price moving in a range for about two to three months. Therefore, we will be looking for buy opportunities from the support level .
-Trading Plan-
From the support level, the price has formed several doji stars. We can also spot a bullish divergence in RSI. Therefore, we have entered our swing long entries.
Check out our previous USDMXN trading plan below :)
Trade active
Buy Entry: 19.81151st target: 20.1800
2nd target: 20.4500
SL: 19.5200
1% risk
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.