USDMXN - likely shortRight side chart.
Impulse followed by a three-wave pullback.
Continuation to the downside
MXNUSD trade ideas
USDMXNBreaking a steep downtrend its been in for over a year. Looking to buy up and a previous higher swing point before pulling back down/
USDMXN(Short)Short Call
Bearish Reversal
Lower high and Lower low formation formed
Hanging Man
Bearish Engulfing Candle @ 4Hr resistance line
Entry below previous Lower High @ break point
Stop loss above last Higher high
Take Entry - 20.1
Stop Loss - 20.02
2 Stage Target Setting
1 TP - 75% - 19.92
2 TP - 25% - 19.85
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USDMXN(Long)Long Call
Bullish Reversal
Higher high and higher low formation formed
Inverted Hammer
Three white soldier formation @ 4Hr support
Entry above previous higher high
Stop loss below last lower low
Take Entry - 19.9
Stop Loss - 19.89
2 Stage Target Setting
1 TP - 75% - 20.525
2 TP - 25% - 20.1
USDMXN Buy PositionMissed an earlier retest of this at the top of the hour 2000 ET 7/18/21, looking for a retest of the area for my Buy Limit to kick in. There are 3 TP areas I have of interest.
Buy LONGPrice is at key support area on weekly. Potential double bottom and long buy for weeks and months to come.
Nice dxy bull trapIn my opinion it is only a matter of time until the rug is pulled on the herd to fill void @ 91.00, I doubt this is an accumulation. Usdmxn says it all, I see trend line longs getting trapped hard. I expect mxn to tank hard along with dxy.
USDMXN Long updateUpdate to Previous USDMXN long Position. if you followed my recent prediction in regards to a bounce along trend line, you already profited. Keep an eye on price action along the support line for another entrance to a Long position.
Elliott Wave Analysis: USDMXN Is Forming A Bearish TriangleHello traders!
We want to share a chart with interesting and known pattern called triangle on USDMXN currency pair.
As you can see, USDMXN is trading sideways since the beginning of 2021. With slow price action and corrective sideways wave structure, we believe it's just a correction within downtrend, ideally a bearish triangle formation within a higher degree wave (IV) that can send the price even lower within wave (V).
Triangles are continuation patterns which consist of five waves A-B-C-D-E and seems like the final wave E can be now in progress, so watch out for a drop back to lows towards 18.x area soon.
It’s also worth to mention that three weeks back the central bank of Mexico (Banxico) hiked the benchmark interest rate by 25 basis points to 4.25%. This seems to be very bullish for MXN across the board and it may last until other banks will start increasing the rates as well. However, a lot of CB seem to be waiting on the FED first. Today, Powell will definitely talk about inflation, but recent retracement on some of the commodities, like Lumber, may give more time to the FED, so they can wait with aggressive taper- talk, possibly till September or maybe even end of the year. Under that situation dollar may face limited upside.
Be humble and trade smart!
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Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
usdmxn longhi pals ⚔🧨
If you are tired of losing money in this market
Just pull the trigger with us and enjoy 🏹🏹🏹
Risk/reward 1/10 minimum
win rate 80 and up
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USDMXN LongEnter long position between 19.8-19.87. SL-19.75. Looking for a simple bounce off the support with the combination of over sold conditions based off of the RSI.
USDMXNRemains into range $19.70 - $20.30, same vision since last year
Short term sideways into range 📉 📈
Of course bullish long term 📈
