Another version for the last scenario. Maybe another wave down Now I close my LONG and watch the chart
Trade wave (v) of ((C)) in flat correction and after down
Fundamentally, gold is ready to fall. Entry point in last review
This picture is chaos, but you should take the time and look carefully
I placed Sell limit at 1.398 target 1.377
Oil rushed down and I closed my short. What was the purpose? Count five waves from the end of wave b (graph on the left) and close the short. Wave 2 or b may continue. For example (the graph on the left) it can be a larger zigzag, in the wave of which the third wave ends. Well, or even wave 2 or b can go double zigzag (why not?). But when you trade corrections...
When technical analysis is incomprehensible, COT analysis can be used.
Technically and fundamentally, the fall of USDMXN is expected 1) Futures volume remains high (for MXNUSD futures ) 2) Large speculators close short and open long (for MXNUSD futures ) 3) Open interest grow (for MXNUSD futures ) 4) Fibo level 0.382 from wave 3 almost reached 5) Need one wave down for USDMXN
I keep holding SELL. But there are disagreements between technical and fundamental analysis. Therefore, two options are possible.
I closed the last trade to breakeven. And better stand aside.