USDMXN - Short with tight Stop !

8 feb 2019

We have a clear impulsive wave down, and are currently in wave 4 which is playing out as a Triangle.
We can short this because we have a very tight defined Stop which is above wave E of the triangle.

8 feb 2019

Nota

Good Risk Management is the key to success!
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Ranking system for my trades

Rank 0, 1, 2, 3

0 = risk the most, it's when all stars are aligned, the gods love us. (very rare)
2 = our everyday trade
3 = risk the least, it's our least confident trade but could have a nice ROI if goes well.

Do something like this.
0 = 5% to 1 = 2.5%, 2 = 1%, 3 = 0.5% of your equity.
Change the values as you wish but
I do not recommend risking more than 5%!

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8 feb 2019

Nota

We might see price come down to 18.08, which would give a 1 to 8 Risk/Reward ratio !

11 feb 2019

Nota

Looking at this now. We should see a wave C higher.

11 feb 2019

Nota

Short position closed out.

11 feb 2019

Nota

Look for 19.40 - 19.50 as potential resistance zone

15 feb 2019

Nota

Price turned at expected resistance zone.
Look for new entry after pullback of wave (ii)

15 feb 2019

Nota

You can enter at market price 19.31 and re-enter at higher price with
Pending Order at 19.34.
Stop: 19.50
Target: to be determined

18 feb 2019

Nota

We can move our Stop to 19.39. We are at the neck line of this H&S pattern. If you didn't take this trade yet, wait for the neck line to break before shorting.

19 feb 2019

Nota

Can move Stop to break-even.

25 feb 2019

Nota

Price urned around close to our stop but luckly without touching it.

28 feb 2019

Nota

Stop reached.