USDMXN 1hr 1mo descending wedge breakout
Updated
A short side breakout will be a sharp drop; long side will be a slow grind higher. Range is tightening as shown by the clumping moving averages.
Trade active
17.74658 short fillTrade closed: stop reached
17.83 closeNote
Still possible for another attempt at a breakoutTrade active
17.7280 short fillTrade closed: stop reached
17.8429 stop and position reversalNote
This poorly drawn bottom part of the wedge cost me 2 trades, but third time looks like the charmTrade closed: stop reached
Losses could have been avoided by moving SL to breakeven but sadly I was out this week. Have to take this one on the chin.Note
17.67 stop
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