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USDMXN

Breakout Of A Triangle On USDMXNHello traders, In this analysis we will talk about a triangle pattern. Those who are familiar with them, will know that these are one of the most popular patterns. The reason why they are so interesting is because while they are unfolding, momentum is decreasing, volume is low, therefore everyone wants to catch the breakout, because we know that sooner or later every correction comes to an end. And very often moves out of a triangle are sharp and fast! On USDMXN we see a break out of a triangle that can still continue towards the target. But if you dig deeper into the Elliott Wave triangles then you will know that a new reversal may show up in a few weeks, as this breakdown can be a final leg withing a higher degree of a trend as I described below. However, not all of the triangles are easy to be recognized, and that is where Elliott Wave shows its strength. Theory suggests that triangle form in five waves, A-B-C-D-E , so if you know the wave principle and you see five sub-waves, then you can already be one step ahead of others because it indicates that potential breakout is coming. Another thing that is very important is that triangle occurs within an ongoing uptrend, so you know in which direction the breakout is most likely going to happen. Also, it is good to know in which position of an Elliott Wave cycle do triangles occur. It can occur in wave 4 of an impulsive structure, wave B, and in a wave X. By understanding the Elliott Wave theory you know that once a triangle is complete the market is very often going to make a final move within a higher degree of a trend. So, not only that you spot the direction of a breakout but also understand that after that breakout, the market can be in final part of a higher degree structure. Trade well!
Education
by ew-forecast
1
USDMXN testing the recent lows 🦐After our last call on this pair (attached below), the market almost hit the expected target around 21.5000 area. On the weekly chart market look on a bearish momentum with a possible break of the recent lows in the near future. Price on the daily chart will probably test the daily structure before starting a bounce over it. If the price will break below the structure we will monitor the market for a nice short order. We will consider a long reversal only over the 22.0000 area ––––– Follow the Shrimp 🦐 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 Plancton0618 strategy will trigger.
Short
by InkyGrip
6
USDMXN NEXT TRADE SETUP(SHORT).As you seen my last week trade setup and our last call on this pair and USDZAR as well, the market almost hit the expected target around 21.5000 area.On the weekly chart market look on a bearish momentum with a possible break of the recent lows in the near future But i should retrace back towards up to maintain its structure(support and resistance) .Price on the daily chart will probably test the daily structure before starting a bounce over it.If the price will break below the structure we will monitor the market for a nice short order.We will consider a long reversal only over the 22.0000 area. All the entries should be applied if all the rules are applied . Do comment us below for instance.
Short
by TradingSwirls
EURMXN Long term analysisHello Traders, kindly like this idea if you love it and leave your thoughts in the comment section Expecting the Euro/Mexican Peso pair to seek discount pricing (lower low) after it was met with bearish repricing at the 28.00 level. The OB on the Daily chart should be able to propel price lower attacking Sell-side liquidity and seeking discount prices at the Weekly Bullish breaker + BISI FOLLOW OUR IDEA UPDATES FOR MORE PRECISE ENTRY TRADES WITH ZERO DRAWDOWN OR I'LL ASK YOUR BROKER TO GIVE YOU A MARGIN CALL :-)
Short
by wallstreetcartel
2
USDMXN Long term analysisHello Traders, kindly like this idea if you love it and leave your thoughts in the comment section The United States Dollar/Mexican Peso pair could potentially see more downside price movement after a Shift in Market Structure and a Break in Market structure attacking sellside liquidity and potentially seeking internal range liquidity at the Monthly FVG. NB: Price is currently trading at the CE of a FVG on the monthly timeframe and we could see bullish prices (monitor price closely) FOLLOW OUR IDEA UPDATES FOR MORE PRECISE ENTRY TRADES WITH ZERO DRAWDOWN OR I'LL ASK YOUR BROKER TO GIVE YOU A MARGIN CALL :-)
Short
by wallstreetcartel
2
Look at the ADL, Can we let the Resistance Pop? USD/MXNLots of people seem to be resisting the USDMXN as it is gaining support levels, but I think with the current sentiment, the positive support will outweigh the resistance. Is this another decent reentry in my Forex quest? Yes! I think thus far USD/MXN have been easy to trade back and forth on the basis of charting patterns. That being said, once you have decent profit turnover, it is usually a dangerous point to be a bagholder in the Forex world. Please take everything I say as opinion based basis, as always. Do your own due diligence and proceed with caution at your own risk.
Long
by gamer456148