POSSIBLE TRADE IDEA FOR BULLS AND BEARS

USDMXN DAILY

MARKET IS BEARISH, 55 ABOVE THE 21. PRICE IS BULLISH, 5 ABOVE THE 8. RESISTANCE IDENTIFIED BY THE ORANGE BARS. SUPPORT BY THE GREEN BAR. 21 EMA ACTING AS DYNAMIC RESISTANCE. STOCHASTICS HEADING NORTH. PRICE BOUNCED OFF MM1 WHERE BULLS WENT LONG, PIVOT TARGET IS THE CENTRAL PIVOT. BEARS MIGHT SELL AT THE 21 SEEING THAT MARKET IS STILL BEARISH.

USDMXN H4

MARKET SEEMS TO BE TURNING ON THE H4 CHART, 21 & 55 ARE FLAT. POSSIBLE 1 2 3 REVERSAL PATTERN FORMING AS PRICE PRINTED A DOUBLE BOTTOM. WR2 RESISTANCE PRESENTS A SHORT TERM SHORT TO WPP WHICH WOULD GIVE US A HIGHER LOW. BULLS WILL LOOK TO LONG THIS PAIR @ MPP/FIB ZONE SUPPORT IDENTIFIED IN GREEN. STOCHASTICS IS HEADING DOWN.

USDMXN H4

FIRST PART OF THE PLAN PLAYING OUT NICELY...LETS SEE HOW IT GOES

USDMXN H4

SECOND PART OF THE PLAN PLAYED OUT WELL. IF WE DON'T BREAK ABOVE 17.80 THAN MAYBE EXPECT A RANGE. ITS THE END OF THE MONTH SO ANOTHER POSSIBLE SHORT TRADE FOR THE MONTH END PESO TRADE.

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