After a 20+ days consolidation period on the Daily chart, the pair has eventually broken support. You all know what this means!

19 thoughts on “USDMXN – BREAKS CONSOLIDATION – 20 NOV”

  1. Kash says:

    Hi Maryna, I have weekly support for USDMXN at 18.905 which is just shy of where it ended last week and may prove to be the true support of the consolidation range. So I don’t see this as a break to the downside because weekly support still holds. Having said that it could be an ideal place to open new longs. Hope you are well.

    1. Maryna says:

      Hi Kash, I don’t use Pivots and pure price action and only interested in selling this pair. Thanks for your inputs and always appreciated!
      Kind Regards
      Maryna

  2. Kash says:

    I wasn’t using Pivot Points…18.905 is weekly support so I was writing to find out why you would sell when the weekly support holds?

  3. Kash says:

    When I say ‘weekly’ support I mean Support that I saw most clearly on a weekly chart…FYI

    1. Maryna says:

      Hi Kash, I actually started selling the pair at 19.30 already, but decided to post my trade plan only when I saw the pair was going to break consolidation. Of course, the pair is over-extended and expected a pull-back, but it broke consolidation and that is the main point. Breaks of consolidations on larger time-frames most of the time result in big moves and I expect the same from this pair. I expect to make some great pips on this pair and just a matter of being patient as the pair is playing the consolidation support at the time of writing this comment. Note, this trade is not based on MXN repatriation, but a normal trade and any repatriation should simply accelerate this trade.

  4. Kash says:

    Hi Maryna, thanks for sharing.
    I have Support at 18.905 and it is unbroken.
    18.905 was previous Resistance of a channel from Support 17.558 that was broken and as of yesterday re-tested.
    Given the former channel height that was broken, my target for USDMXN is 20.25
    Again, former resistance of 18.905 is currently Support and has NOT been broken to the downside. It indeed still holds.
    Warm regards from down under, K$

  5. Kash says:

    Oh, and on the repatriation, I see no exact date that it does indeed occur at the start/end of the month and it does not always occur. In fact, the demand for USD can be greater than the $4bln or so demand for MXN at month end and result in the USDMXN repatriation trade cannot be relied upon with any certainty.

    1. Ryan Gandalf van Jaarsveld says:

      Hey Kash – can’t wait to see some of your trade plans bud. You are so knowledgeable.

    2. Maryna says:

      Hi Kash, just to clarify, the plan I posted is not based on repatriation and should repatriation occur it will expedite this trade.

      1. Ryan Gandalf van Jaarsveld says:

        Hey Maryna most likely a waste of time debating with people who don’t know what they are talking about… You know what you are doing, you are a good trader. The lion is not bothered by the flies. Humba baba!

        1. Maryna says:

          LOL Ryan!!! Bringing in the BIG FIVE into your comment.

          1. Ryan Gandalf van Jaarsveld says:

            I wish there was a like button on here!

  6. Dalmas Ngetich - FOREX.TODAY says:

    Sell while the bear run last. That break of consolidation was important.

    1. Maryna says:

      And we sure sold this pair like crazy and mucho $$$$$$ in the bank!

      1. Dalmas Ngetich - FOREX.TODAY says:

        Ha ha, $$$ carry trade galore

  7. Dalmas Ngetich - FOREX.TODAY says:

    Plus @maryna27 USDCAD set up hints at a possible upswing

    1. Maryna says:

      Dalmas, that ‘address” you use for me is not mine. I’m on SKYPE at Maryna.Murray27 and not on Twitter.

  8. Kash says:

    Wow! So much for a community spirit at Forex.today. Your comments are arrogant, shaming and judgemental. Ryan, you are not a Lion and other people on this website are not flies as you suggested.
    I opened up the discussion in the spirit of learning and sharing with my query about how Support was identified by Maryna with respect to how I identified Support so I could learn.
    Instead I was met with a bunch of egotistical and aggressive, nasty comments.
    Forex.today is clearly not a community for me.

    1. Ryan Gandalf van Jaarsveld says:

      I understand where you are coming from and I apologize if I offended you. You are right, I was out of line. I just get irritated when people have a lot to say in comments though have failed to upload a trade plan of their own… Though I guess that’s what the comments are for. I am sorry for making you feel unwelcome. I do look forward to reading your analysis in future and following your trades. Peace brother!

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