USDMXN
UsdMxn- a new rise to 22 zone is very probableThe 21 zone is strong support for UsdMxn and also the drop from 21.80 is contained in a falling wedge pattern
I strongly believe that 21 will hold and a break above the descending trend-line of the wedge would accelerate losses for Mexican Peso.
A buy trade for this pair could have a 1:3 R:R
USDMXN (4H) Backtest : 61% win rate across 23 trades => 15.4 RBacktest results : prnt.sc
Icons on the chart
Thumbs up : Trade was a win
Thumbs down : Trade was a loss
Circle with a cross : Trade was breakeven
Cross : Did not take the trade due to presence of liquidity (equal highs/lows) behind the stop loss
Variables
Avg winner = 1.6R
Strategy : wait for market structure break, then trade the retest of that zone. Zone is drawn using the first candle which crossed the pivot high/low to trap the traders.
USDMXN large triangleAl clonar la líneas de tendencia se ve como son líneas paralelas las que confirman un gran triángulo en el cual se ha encontrado rebotando el tipo de cambio dólar peso.
USDMXN 5-3-5 Correction Hello Traders
USDMXN now in Subwave 3 of Wave 5. A more bearish trend following the downtrend channel
FX:USDMXN
USDMXN
Technical outlook
Bearish scenario
Since 24.03.2020 the pair is developing a bearish trend. Currently, the price is below 9 days EMA in conjunction with the pin bar that formed yesterday (15.10.2020). From technical point of view the first target for on the downside should be 20.8755 and if this level falls the long-term resistance around 20.40.
Bullish scenario
The resistance level of 21.50 should be monitored very closely as if the price start trade above this level for couple of days then the target of 21.85 should be achieved quite fast.
Fundamentals
The cyclicality is now in favor of MXN as a 10 years cycle in the USDMXN could be at its end.
Also, the elections in the USA could be the fuel behind the further drop in the USD as these kinds of events always lead to uncertainties.
Traders should keep in mind also that the environment of low interest rates in USA is by default good for the emerging markets as most if not all of their international debt is denominated in US dollars.
USDMXN on a daily channel 🦐USDMXN on the daily chart is perfectly moving inside a daily channel.
The price has just broken the daily support, if there will be a retest of it we can set a nice short order according to Plancton's strategy
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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.
USDMXN Break Invalidation LevelHello Fellow Traders
Just a quick explanation. Price already broke Invalidation Level which is Wave 1
A more bearish trend will be form until complete Wave 5
FX:USDMXN
DXY falling!!DXY falls bellow MA50, during the asiatic session. XAUUSD & XAGUSD appreciating.
Gilead can now supply remdesivir to any hospitalized patient in the U.S. and will be able to satisfy global demand by the end of October.
Next Level for DXY is 92.80
USD/MXN going Arriba!Hello traders
US dollar is getting stronger against "peso mexicano" after the 7 month decline the started April 6 2020. On September 22 2020 price broke above "7 month bearish trendline" indicating buyers are under control.
This in my Wave count
USDMXN Don't miss this rideHello Fellow Traders.
Just a quick analysis. USDMXN already broken the trendline at H4.
Wait for retest. My buying zone is based on Fibonacci Retracement 38% till 50%
Please like my post and comment below. Thanks
FX:USDMXN
USD_MXN BREAKOUT LONG|TRADING PLAN
USD_MXN BROKE OUT OF RESISTANCE.
LONG ON PULLBACK
(1) The pair is generally in the downtrend
(2) But a support formed
(3) Together with breakout, its a long
(4) A retracement of a strong downward movement on higher timeframe
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