Get Prepared for a bull runON the monthly Time frame, we see that the market was rejected to the upside after making a retracement. And it is important to note that level was a nonetheless perfect spot for that retracement because it aligns with the 38.2 fib level. The situation is more interesting on the weekly because, after breaking the demand area created on the weekly we saw that the market came back to test back that level of demand . And apart from that, we see also that it created a W formation, and after the creation of the W formation we should expect the market to come and test the neckline before continuing the move to the upside (In fact this is what we said on our previous update, and things went as planed). On the Daily, the situation is more clear, the price is coming to test back the the trending which happens to be in the same area of the weekly support.. Everything is in harmony from the Monthly to the Weekly. But before we show how we can approach the situation, we want to see what the institutions and the banks are doing . With the last report, they opened 3K longs once more and closed 15K shorts (very massive) for the EUR, and on the MXN, the opened 1K longs and also 1K shorts.. Making the EUR way more stronger than the MXN.. Right now technically and Fundamentally everything is in confluence. SO the best way to approach this situation is, we are going to be monitoring price action on the Weekly support, if there is a change of trend on the 4H TF, then we are going to take a long with a good risk reward and a very good probability to the upsideLongby Big_Player5
eurmxnwhen market fits all my rules ill enter then take a shower then eat , also should I send out more trade setups ? Longby tep123450
Buy ideaPotential buy, would wait for a retest for more confirmation but the impulse candle cleared liquidity and we have strong rejection of the supportby PjFomunung0
EUR/MXN - Trade idea - Opportunity! EUR/MXN - Great opportunity. I took the short from yesterday, as the pattern looked like bear flag as well as descending channel and various other aspects. For now technical aspects: Below the support of 25.78 the bears could have further control and head towards the next support areas of 25.68 which matches out retracement of Fibonacci 161.8 area. Above and going out of the channel we will have the bulls getting into control, the resistance areas - 25.89 above that we will have clear direction of bulls next resistance after we will be heading to Fibonacci retracement areas, 0.618 areas. Do keep in mind, wait for clear break of the key levels and any patterns that may occur! Remember: Just a trade idea, not a recommendation. by Trade_Journal337
Going down? Is this what you expect on EURMXN?As we can see, there is a clear drop on EURMXN since June 29th. The price drops from 26.149 to 25.036. So how does this drop influence the future trend? The most direct way is to build a Fibonacci retracement and wait for the retracement to meet these levels. Here, the high trend line already meets the 0.786 fib level, which is a high retracement. As can be seen, the price forms a rising wedge pattern, and the upper trend line is just the 0.786 level fib. So this 0.786 retracement line is very important here. It gives pressure to the price and marks the power of the price. I would say, that’s it, the price may not break out this line here. So, as I mark, let’s wait for a downward trend now. Shortby traderscolo-en5
EURMXN - BREAK OUT!It's not a pair that I would usually trade, but it's an opportunity! I like this pair a lot, been keeping an eye on it a lot. Now, it could break either way - Above high ends of 25 areas we could get a break out and could take the pull back trade up to the next resistance. However, if it breaks to the lower ends, below that key trend-line up and if you were to put 200 EMA as well is there as well then bears are back in control and take the next support as your profit area. Great clean chart! Remember: it's just trade idea, not a recommendation by Trade_Journal5
EURMXN BUY- 4H & daily trendline met - 618 fib rejected - 618 fib marries support line & trendline - price below moving average - waiting for confirmation of bullish power to enter tradeLongby FMTradingTeam223
EURMXNEURMXN BREAK OF TRENDLINE AND RETEST , LIKWISE FORMING HEAD AND SHOULDER PATTERN Shortby dammy20203
EURMXN Head and shoulder shortAnother observation, also crossing the 50 day MA on the 1 hour chart. Shortby andyduly3
EURMXN Possible Head and Shoulder in H4 $ M30I see a possible Head and shoulder Formation in both H4 and m30. which further Add to what i wish to see to take a low Risk Trade. I anticipate a bearish Month in all.. As we have gone into technically what is over bought During the Aussie Session.. London Session and NY Should Provide enough Liquidity needed to push price Down.Shortby gwinfx4
EURMXN SHORT TRADE SETUPEURMXN has met Resistance around key area and Bears have one more time stepped into the market.. i expect a bearish month all together. You will learn the best place where we can trade this instrument at low risk. Write in the comments all your questions and instruments analysis of which you want to see. Shortby gwinfx4
EURMXN losing upward momentum, looks likely to turn downRough sketch of expectations. I'd be looking for a break in market structure + retrace or a sweep + reclaim of a range high to enter. Thesis invalidated if red tangent line is broken. Shortby FangTrades4