This idea is for educational and demonstration purposes and does not constitute a signal.
Does history repeat itself? You will see that I modeled previous price action as noted to current price action. Underlying fundamentals at play, to keep in mind are the weakening of the Mexico economy. Market structure mimics broadening wedge. Note also 9 and 50 EMAs which have crossed to the upside to indicate we are not quite over with the buy. Fib levels point to previous highs in the market. Trade at your own risk.
Does history repeat itself? You will see that I modeled previous price action as noted to current price action. Underlying fundamentals at play, to keep in mind are the weakening of the Mexico economy. Market structure mimics broadening wedge. Note also 9 and 50 EMAs which have crossed to the upside to indicate we are not quite over with the buy. Fib levels point to previous highs in the market. Trade at your own risk.