USDMXN
USDMXN Target Price 21.49836 (Entry Price 20.86410)Wait for a pull back to horizontal support resistance level and dynamic support resistance level for an entry.
broke above prvious structure, and closed above Broke above previous structure and closed above, waiting for retest for another entry
USD/MXN breakout confirmed, upside momentum on the rise. LONG.Hello traders,
finally - after losing a few £££ while trying this long trade - this pair is giving me
some hope that there is scope for a long trade after all...
Went long at: 21.0411 with 1M contract; fixed-amount trailing stop (10-step) is currently at 20.8034 and
the take profit is at 22.000, making the potential loss about 1/4 of the potential profit.
Good luck to us all!
Francesco aka Forexistential
Will the USDMXN have escape velocity to break 20.77?Again, our favorite FX pair is the USDMXN....we follow it closely. The currently path upwards has first resistance at 21.77...tried once to break it and now has a second time to do it. We think it eventually breaks to the upside. The bottom is in!!!
BUY BUY BUYHello team, usdmxn has been moving very well in these zones. looking at a long with a good risk to reward. using H4 candlestick confirmation buyer will come to the party soon
USDMXN Bullish idea that might tempt meWaiting for 20.846 to break and turn support for get the momentum sweet spot.
Weekly trend indicated in Bold vs 8hour levels and trend.
USD/ARS: up nearly 9000% since the 1990s... Hi traders!
In this video I look at:
- updates on my development as a trader;
- looking at exotic pairs;
- comparing various exotic pairs (USD/ARS, USD/TRY, USD/MXN) to the S&P500 and US Dollar Index (DXY);
- conclusions.
Take care!
Thanks for watching, I love you all.
Francesco
is this what i think it is? (Descending triangle breakout?!)Over the last few days the USDMXN pair has developed lower highs and is showing signs of an early development of a descending triangle pattern. Being that this is coming off an uptrend, we can assume if it has at least 3-4 taps on the support/liquidity zone around 20.10 , it can go from 20.10 on the last tap straight into 20.85-21.00 , given that the extension of the breakout is usually around the length on the mouth of the triangle. Hoping this plays out as I did hit a stop loss on my previous analysis of shorting the peso into 19.50. Previously I failed to mention what could happen if this reverses and breaks the 20.10 level, if it does happen to reverse on our call, this can also break the 20.10 level, plunge into 20.00 , back to test new resistance of 20.10 then down to the next heavy level of resistance at 19.90-19.80 . Stay alert, take my analysis with a grain of salt, and lastly, lets get this smuddy. LOVE Y'ALL!
- Lui
Entry 1 TP1 (LONG)
20.09 20.40
Entry 2 TP2 (SHORT)
20.40-41500 20.10
Entry 3 TP3 (LONG)
20.10 20.80-21.00
PS, I've linked a reference for you all to check out on how the pattern looks, how it can play out if it does develop. Also each one of the trades I take has only a 1% Stop Loss in case the markets do not move my way.
We meet againLast week I attempted to short the usd/mxn and it didn't work out to say the least. This week I am back for more. The trend is still bearish and we are still below the midpoint of the range (rectangle). Selling here or higher with a stop above todays high at 20.4000. Hopefully the spike up marked the top and there will be continuation to the downside over the coming days and weeks. Ideally I would love to see the pair revisit the lows near 19.5000
