2016-01-29_00-38-00usdmxn

Dear Traders,

Today I am sharing a trade on the usdmxn on the daily chart.

I went long on this pair when I arrived home and would like to share with you the reason why I took the trade.

You see the big distance of price in regards of the 200 day blue moving average.

Price is making higher highs and lows for quite some time now.

Therefore the strategy is to wait for a pullback or retracement and buy at a cheaper price.

The moving average with the color red is holding price supporting it therefore price retraced to its mean and I took the shot.

Entry: 18.3489

Stop: 18.1365

Profit: Letting it run untill stopped out while trailing the stop

BEST OF PIPS

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