After the market tradeded to the 2024 high and showing a crack in correlation with the MXN Futures contract,
It has since shown a willingness to break structure and move lower.
Whether or not the long term up trend is over remains to be seen, but I do see a move lower to the equal lows at 19.76 possible.
I look to sell the market if it retraces up to the 20.46...
GBP/AUD has spent the last few days in the price range 2.033 -2.011.
The significance of this range is that is is an area of inefficient price delivery on the Buy-side of the market (see Monday 6th April 2020).
Once price reached that level, buyers who were only willing to do business at these levels now can price in their orders.
My trade idea is to those SELL...
USDMXN had been trading in a tight range in a series of higher lows and lower highs.
This is known as an 'ascending triangle' pattern.
Now, I dont actually trade triangle patterns, but my trade idea is based off exploiting this patterns flaws to facilitate a trade to the upside.
If you look at the NOV 26th Bullish candle that broke the 20.70 highs, there were...
Fundamentals backing this trade idea:
- Silver as a seasonsal tendency to rise in the month of February
- Looking at the Commitment Of Traders Reports, large commercial hedgers are decreasing their overall net short positions
Thought process:
Smart Money Concepts begin with adopting the 'Market Efficiency Paradigm' which is the idea that the market is either...
