Looking to sell this pair due to end of the month repatriation and high oil prices
Hi Nuno, thanks for the post and just a question/comment please? There was a shooting star on the H4 on 18 May already that also resulted in an impressive sell-off and the break of a very strong support level @1860000, taking it down to 1833945. The 1860000 level has held since 2016, so I see this as a significant break. So, possibly the market may retest this level as new resistance first as this level gave a false breakout last October, but looking at the H4 now, this level may just be the new resistance. What are your thoughts? Thanks!
Hi Maryna , thank you for the comment , i see this pair falling from the 21, that is a 50% fib reaching 18.15764
,if i see a retest to 1860000 i will predict a double bottom at 18.33330
don’t you agree ?
Hi Nuno, sorry for the confusion, but my question was more directed to “timing’ and why you did not sell earlier e.g. after the shooting star was formed or whether you ONLY trade the month-end $$ flow from US to Mexico. I understand Pivots/MA’s, but don’t use them to trade. However, from your reply I assume you trade/are planning to only trade the month-end flow, so you answered my question is my assumption is correct. Thanks!!
Yes you are correct thank you
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