USD/MXN LONG IDEA - WATCHING FOR REVERSAL AFTER 1400+PIP DROP

We just caught 1400 plus pips on the sell of this pair (note linked related idea below). I have been waiting patiently for indication of reversal. We just received impulsive bullish movement; note also how price respects trendline and has confluence with 61.8% fib level. TP levels 1 and two are placed at 50% and 61.8% fib extension. Yellow zone is a key demand zone historically. Trade at your own risk and always use proper risk management.

Trade attivo

Nice bullish candle on the 4H..If not in already, watch for retest. We could still see more consolidation or a push to the downside before this pair takes off.

Trade attivo

Price appears to be rejecting the 200 MA. Protect profits or take profits at will

Trade chiuso manualmente

I took my profits as per my note above. The 200 MA rejection was enough for me to see a good time to take my profits. I do believe long term we will see higher; however, I will continue to watch price action as a basis for my next position.

Nota

see how price responded to 200 MA after my update on 2/14.

mrsceleste

Pubblicazioni correlate

USD/MXN Short Idea - Possible 1400 Pips

di mrsceleste

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