Long

USDMXN Possible bullish reversal

Updated

USDMXN broke out of the one month long consolidation, we now have a possible bullish reversal and we can try to catch this retest for a long trade in the kill zone as shown in the chart above. Target one is as shown in chart but there more upside if we break above that level as well

Note

Now a nice bullish engulfing pin bar at the retest on 200 MA, MPP, DPP and 38,2 fib.

Note

Double bottom on previous broken structure and looking to see if this TL will get broken.

Note

So far so good, we reached ADR high now so it should correct some down.

Note

The comment above had the wrong chart :D

Note

USDMXN do a deep correction and as far as no break below previous low as shown in the chart it is still a valid idea.

Note

For those who still in this trade, if we get a daily close below S1 of today that will invalid the longer term long, i hope you guys managed to get some pips out of the first two bounces

Note

sorry the comment above had the wrong chart :)

PA-FX

Also on:

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.