USDMXN Short

12. Nov. 2018

Daily Bear close
Weakly upper wicks
Im still analyzing this trade because I dont like that the 5th wave is truncated. Ideally a push higher above 20.47 would have been nice.
A really big bounce from 20.47 level could indicate we're starting the move down in C though so I'm looking for shorts

12. Nov. 2018

Anmerkung

Here is a shot of 4 hour chart, you can see the bounce from 20.47

12. Nov. 2018

Anmerkung

Another lower time frame shot

12. Nov. 2018

Anmerkung

My entry will be taken on 5 minute chart - Im looking for a move higher towards 20.26 to complete wave 2. Ill put a stop at 20.35 or .786 retrace because it is a counter trend trade and its possible we just keep going up to break the top so that we're no longer in a truncated 5th situation. Then I'll again look for shorts

tradingview.com/chart/KTNDML0J/

12. Nov. 2018

Anmerkung

Link to above comment chart is here

12. Nov. 2018

Anmerkung

Entered short at 20.2126. I did have an entry to sell at equal legs but I got rid of it because Euro was dropping so imulsively, I thought dollar would just take off and so would the USDMXN. Instead I entered using the 15 minute stradegy where I entered short once price broke below the 15 minute candle that got into my sell zone.

12. Nov. 2018

Anmerkung

I didnt look at the monthly candle and it is a huge bull. That spells trouble for this trade. I'm down some good pips on this, more then what I should have risked to begin with. Now I'm hoping this is just a B wave up and were coming to an end here soon. The other side is that it could keep going towards 20.60 where it might find some resistance

14. Nov. 2018

Trade geschlossen: Stop wurde erreicht

This was a trade just done wrong. I had a couple opportunties to exit the trade when price got close to my entry point but I just stayed in. Well - I still think its going down from here but unfortunately Im stopped out and now may miss the big move down.