After a recent sell off, it appears that the bulls have joined in. First signal was the bullish reversal, double bottom, which also appeared on our RSI. Bullish Divergence was also sighted. Sign of bullish strength becam evedint with higher lows and hiighe highs. We see where the trend consolidated to collect more buy orders around our supply/demand zone.
It...
Coming from a major swing low, we saw that the market broke a series of lowers highs with bullish breakout. The market pulled back to trendline to find dynamic support. A trend reversal was at play. Our buy signal is the bullish engulfing+Wick rejection in the Fib's Buy and Sell zone. Stop loss below the wick. We are risking 31 pips for 271 in total.
It seems that the short term Up-trend is coming to an end for this pair. Let's see what happens as prices shows lots of bearish momentum and market structure to push low
Prices recently made a swing high in a downtrend. Bearish momentum was observed at the supply and demand zone after failing the market failed to break above, retest and continue with uptrend move. Prices broke back into zone with a series of bearish signals.
Prices also broke below and retested 21 ema.
My entry was made as shown, stop loss above the bearish...
The The overall trend is bearish. Fibs was drawn on the main major swings and prices rallied to our 88 fib level where reversal is common. It so happens that a bearish harmonic pattern has formed. Stay tuned!
For months, USDMXN has been extremely bullish, however prices started to make converging swings, forming a symmetrical triangle. Prices broke out with a lower low and restested structure with a lower high which lined up with the 50% fib level where we often look for entries. My stop loss is above the wick and target is at the 161.80& Fib extension.
The market was in a previous uptrend in recent weeks, but more recently, the market has been slowing down in it's bullish momentum. It is observed that after the recent swing High and swing Low, (which broke uptrend structure) the market went in an area of Lower High where around and important fib level in which we would seek to sell. I entered at the close of...
