Get started

USDMXN

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.
by makuchaku
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.
by legacyFXofficial
1
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 ––––– 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
12