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USDMXN: SELLBased on our Fibonacci drawn from high to low on this daily time frame, we can clearly see that price has stopped at an entry zone for bears. Another confluence for this entry zone is the horizontal line drawn at the 61.8 level of the Fib, and as you can see price has touched this area a few times now. If you take this idea, make sure to set your stop losses based off of your risk management plan, and expect for take profit levels to be around 19.0706 and 18.7472 .
Short
by cupofconfidence
USDMXN updates after JacksonThe positional struggle, or put simple the slow siege from sellers back to the base is finally exhausting. Powell has attacked with a move several times the strength of the surrounding defence. USD will now maintain the pressure and birth of fresh strength will unlock the next leg higher in USDMXN. Since 2018 we have been tracking the explosion higher. The break of the ABCDE triangle with Covid has already been analysed several times, much rather talk about the significance of the next move. Well, it renders the precedent and totally immobility of MXN, Powell confirming the USD offer is starting to expire means breaking strong support is no longer possible. On the technicals we must be clear, the 18 handle contains not a little resentment but rather the ambitious dreams of forcing another move similar to what we saw in 2020, allowing our opponent into a false sense of security with a trap before capitulating as far as the eyes can see. The resistance to the topside is now mostly dead and buried. For those looking to buy, the goal above comes in to play at 22.3x and 22.9x as a ideal extension.
Long
by ridethepig
2
Eco/monetary news n°31> Bank Of England chief economist claims US inflation is likely to spread to the UK *********************** After the US inflation reached the "Yarrr you're a pirate - Steal 5% of the public's wealth each year" achievement, the BOE chief economist said their own inflation was likely to catch up. He mentionned the rising energy costs that were already putting upward pressure on prices and that they were bottlenecks in the labour supply. Some people have claimed that companies simply had to pay their workers a decent wage. Fast food companies have started to fire everyone and use robots instead, other companies raised wages and are raising their prices. To be fair low wage workers don't really understand economics so they will be satisfied by the wage rises - "Hurrah" - and it will take them a few years to figure out they didn't really gain anything, at which point they will demand higher wages and government spending, be happy for a few years and then... Hey if they were able to understand this then they'll be able to do more than flip burgers, and they would not even ask about all of this, we wouldn't have the problem entirely. Checkmate. To be even more fair even engineers, doctors, and deputies & senators fail to grasp these concepts. Inflation and economic concepts are not even that complex. So how can we teach the public about it? Worry not the FED has you covered! On June 21 the FED of Cleveland has published 3 lego videos to explain the basics of inflation and broadcast propaganda - errr I mean explain how the FED does a wonderful job at making prices stable and building a fair world for everyone (try not to laugh challenge). > The EU got the US to join their TTC effort (new TAFTA) with little attention *********************** Sure corporate profits went up more than wages. But if you add the ballooning government spending to wages the sum is equal or greater to corporate profits. Before people earn a wage and buy things with their hard earned money. Today they buy half with their money, get the other half from the government. Simple. Which brings me to the comeback of the TAFTA, now disguised as the unadvertised TTC (Trade and Technology Council). Some small media are covering it, there is an official press release (they are obligated to publish everything they do): ec.europa.eu The TTC is a trade agreement between the EU & US like the TAFTA that was strongly opposed, especially by farmers and other self-employed people - do not expect much from tamed wageslaves -, it also gives censorship power to governments and big tech. The TTC is for now under the radar, and there has not been public backlash yet. I do not know much about it, I just know it sounds like more taxes and more government power and control, and people disliked it, and their texts contain words like "democratic", "promoting", "fair" and "climate" way too much for this to not be at least suspicious. > The S&P panic might be over and retail positions are strongly short once again *********************** The S&P 500 once again made a new high, and rallied above it this friday, and closed above the previous ATH. Major Forex broker publishing their retail client positions show that short positions are going straight up, and the ratio is around 4 to 1 short:long. The explanation given for the new high is the market being satisfied with the FED seductive words "Everything is going as planned", "It's not that bad", "Don't worry it's only temporary", "Ignore the FUD it's just noise". Like asking Elon Musk if I should buy Tesla shares or go short. As usual with a planned economy (socialism), "everything is going great!", and the means of production are in the hands of a few, such as Blackrock. So as long as they want prices to go up, prices will go up. You can whine about it, or you can profit from it. Very recently Vladimir Putin, and some top Russian/Soviet spies have compared the US planned economy to their own back then, and the whole situation to the Soviet situation just before the end. So avoid this ridiculous "passive investing" nonsense, and be prepared to run for the exits! I think Gorbachev talked of this too, or is it just my imagination? Probably he mentionned it between 2 sentences while whining about "we could have saved the Soviet Union if only...". Not that it would be relevant... Ramblings of a delusional senile old man... > USDMXN: For the first time since 2018 the Mexican central bank raises rates *********************** The pesos is undervalued relative to the USD by what? 50%? Good guys. Altruists. Seems like altruism has its limits, as Mehico, number 2 sucker to America after China (but really number 3 behind the European Union), seems to want to strengthen their currency a bit. Inflation has skyrocketted, doubling in 2 months to 6% annualized. Their target is 3%. Last time inflation was this high was in 2017 just before the last rate increase. They only brought the rate from 4% to 4.25%. The US suck in all the capital, all the workers, all the entrepreneurs, all the investments. Not much longer by the looks of it. Kill America to Build Back Better. Hey! That may not be what they had in mind but that's going to be one successful operation. It was not fair that this "superpower" (pbui) was sucking everything in, and exporting its inflation. The downtrend is very hard to start (bull markets are born in pessimism), but at some point it accelerates very fast, simple crowd science. Look at crowds that dance. First a few "weirdos" dance all by themselves, for a while. Then a few people join. And quickly it accelerates and trends. And before you know it the people not dancing are the weird ones, the "anti-social", "what's wrong with you? you're in a bad mood?" lmao 5 minutes ago you were saying the ones dancing were ankward autists on drugs. Just a matter of time. As always, it's all about simple patience. Well not too much patience the death of the USD might have already started. Even if US inflation reduces like Japan did in the 90s atfer a quick spike up, there is no way the north americans will continue to suck the whole world wealth, and countries like Mexico will get their fair share. > 10 days after ending the mask mandate highly praised 💉 Israel brings it back *********************** 🙂 Wow, who would have thought? "Take the damn jab and life will go back to normal". They love this phrase "A return to normalcy". "HURRAY! Back to normal!". "Last time they said". Cracks me up every time. What they all fail to grasp is: This is not a video game. There is no magical one size fits all solution that will just beat the boss and move to the next level. This is not a Zombie movie where the ending is Morgan Freeman narrating "And so they found THE CURE and the zombie outbreak (magically) ended and everything went back to normal we rebuilt everyone was happy the end". Children... I am calling it now: - The number of deaths in the US and EU will double, bringing the "over average" peak from ~10% to ~100%. They'll use it for fearmongering. - The restrictions will continue (for a virus or the climate). They've been fascinated by China totalitarian methods and masks for a while. - EU economies will continue their decline, perhaps it will accelerate (how can Greece decline even more?) - Coronaviruses, which are much older than humans, are not going to go away (I have no polite word for the big brains that think so) - There will be other infectious diseases too obviously > Bitcoin hoovering around year lows and there is less than 1 month till TSLA 10-Q *********************** Bitcoin is still around year lows, and by extension at best at the price Elon Musk bought when he decided to gamble his investors (and taxpayers) money. China, just like september 2017, is cracking down on crypto. Bear trap perhaps. Bull whales can still go down before a big rally. Hey where did the Buffalo factory money go? In gambling Bitcoin? So this is where it went? Cathy Wood, a dumb fraud victim famous for getting lucky with Tesla and mistaking luck for talent, has - big surprise - gambled on Bitcoin 🙂 She bought 1 million share of the Grayscale Bitcoin Trust. I didn't really look into it but it has a 30% premium, so it's literally made up of idiots throwing money at anyone that wants to do arbitrage but my gut tells me this is too easy so I'm guessing one simply cannot cash out of this ponzi scheme. I did not do my research all I know is there is a big premium. Ah that's what is great about dumbasses that think they are geniuses. Jérôme Kerviel. Nick Leeson. "Legends" on the internet. 16 years old prodigies. They never learn their lesson without getting hurt. So the really lucky ones are those that lose at the start. All these gamblers and fraud victims get false positive feedback and double up on their risky casino bets. And then get hurt. Badly. "Normies" will brush off smart people and believe scammers, trolls and gamblers. Seems unfair that stupid trolls get lucky. But what's cool is we know for a fact that sooner or later they will get hurt. All it takes is patience. They all end up burning themselves. I hope Elon Musk goes to jail where he belongs. And Cathie Wood gets ridiculed as it should be. Might be soon, might be later. But it will happen.
by MrRenev
USDMXN on a spicy level 🦐USDMXN is currently testing a weekly support. The price is trading above an ascending trendline with some retracement to the upside for a test of the 0.5 and 0.382 Fibonacci level. According to Plancton's strategy if the price will break below the structure we will set a nice short order. ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> >4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Short
by InkyGrip
2
USDMXN | SHORT-Values- Entry Range: 19.93293 - 19.97017 Average Entry: 19.95845 (RRR: 1.86) Stop Loss: 20.00931 Profit Target: 19.86254 -HOW TO ENTER MY TRADES- 1. Ladder your entries. You'll want to ladder place your orders exponentially within the Entry Range to the point your RRR is atleast 1.5 if fully filled. 2. Only first touches are valid. If price is rebounding back into the entry zone after either the profit target or stop loss was hit the entry zone is no longer valid. Example: Trade Idea: Valid and Invalid Entry:
Short
by Event0011
Emerging Currencies Making a Recovery??As we zoom out and look closely at the Mexican Peso, we see many signs of strength that have been building for some time now. I believe the MXN and many other emerging currencies are all showing similar signs of strength and in the process of a reversal. While this may provide a great long trade and a short-term boost to the Peso, I fear it will have long-term negative effects. These are the things that lead me to continue to believe the dollar will continue to devalue. Emerging market currencies have consistently gained strength against the dollar. If the Peso closes above the 13-year historical resistance by the end of this month, it will be a decent confirmation of a trend change. Unless we see some BIG power moves come from the dollar, I believe this is likely to continue. Not to put to be dramatic, but "IF" this does play out, it will be VERY difficult and drastic for most people's current financial circumstances in the U.S. If the US dollar loses that much purchasing power in relation to the rest of the world, it will affect people in many ways. If it now costs most companies a certain amount to purchase products, then the stores in the US will raise their prices significantly, at least to make up for the lost purchasing power, which means many will have to settle with less to provide for themselves. This may seem good for the emerging currencies and their economy in the short term, but I believe we are seeing a global financial shift that will affect everyone negatively, not just the U.S. economy. The U.S. produces very little in comparison to the rest of the world, so we will suffer because of this. IMO, the U.S. has sat on its laurels of being the biggest economy far too long, and it's caused us to have an economy that is far too reliant on other countries because we "had" the money to pay for cheap labor. I believe the U.S. will suffer a great financial loss because of our short-term approach and being far too prideful because we had more financial liberties compared to others. Essentially, The U.S. became conceited... This money printing has seriously backed us into a corner. Very similar to many ancient empires in the past. I honestly hope I'm wrong about this, the effects of this kind of macro shift could be devastating for many. When things like this happen, it's typically best to look into hard assets like Gold/Silver and even Bitcoin. Please don't take my brutal honesty the wrong way, but I believe it's important to see the global shifts that are in place and consider taking the proper precautions. We're entering uncharted territory for the global economy and this will likely create unstable conditions for all.
Long
by CryptoSyphn
Run, Forrest, RunOne more trade on big frame, wolves🔥 Great descending triangle on EURMXN currency pair. According to Elliott Waves theory Wave D is done and the price is heading to Wave E. However this triangle may be circumcised and the breakout will be in near future. Follow the chart and look for the breakout carefully. If you enjoy my FREE Technical Analysis , support the idea with a big LIKE👍 and don't forget to SUBSCRIBE my channel, you won't miss anything! Feel free to leave comments✉️ And always remember: "we don't predict, we react".
by Berzerk_invest
$40,000 MXN Proximo TARGET. Todavia Puede Realizar DiscuentoAs we continue to see a nice rally above the Ethereum ATHs, we can now approaching the important psychological barrier of $2000 USD. There has been speculation regarding a ton of limit buy orders at $1800 USD so be sure to watch when we cross into the high teens for ETH. If we take a look at relative price of ETH to BTC , ETHEREUM is still trading at a DISCOUNT. BITCOINS Previous all time highs were $20,000 and ETHEREUM was at $1450 back in the last crypto bull rush January of 2018. As a result, we can see that ETH has lots of runway left to catch up to BITCOIN . I would argue fair price for ETHEREUM should be around $2500 relative to BTC's $50,000 PRICE TAG that we are currently approaching. Strategy would be to enter and look for exit to $2500. I still believe a correction is coming for both the Stock Market and Cryptocurrency. I believe the crash will come in the equity then in crypto as people roll money over to the equity side of things to pick up stocks on the discount. Previous ideas played out nicely. Now I have re-entered another aggressive position on ETHEREUM . Be sure to watch the cross of $1800 USD that will be our launch. Lo onda sigue bien para seguir creciendo el portfolio con ETH, ya conquistamos precios altos de 2018 y ETH tiene un objetivo de $40,000 MXN En Su Mira. Seria importante de tomar ganacias con el precio superior de $40K MXN Puedes conseguir discuento todavia; Si echamos un vistazo al precio relativo de ETH a BTC, ETHEREUM todavía se puede REALIZAR un DESCUENTO. BITCOINS Los máximos históricos anteriores fueron alreador $ 400,000 MXN y ETHEREUM estaba alreador de $ 30,000 MXN en la última fiebre de toros de criptografía de enero de 2018. Como resultado, podemos ver que a ETH le queda mucha pista para alcanzar a BITCOIN con el CONCEPTO de precio relativo.
by sovietunion18