USDMXN TO 19.76 (READ DESCRIPTION)
After the market tradeded to the 2024 high and showing a crack in correlation with the MXN Futures contract,
It has since shown a willingness to break structure and move lower.
Whether or not the long term up trend is over remains to be seen, but I do see a move lower to the equal lows at 19.76 possible.
I look to sell the market if it retraces up to the 20.46 - 20.39 range,
Stop loss @20.68
Take profit @19.76
Risk to reward: 1:2
It has since shown a willingness to break structure and move lower.
Whether or not the long term up trend is over remains to be seen, but I do see a move lower to the equal lows at 19.76 possible.
I look to sell the market if it retraces up to the 20.46 - 20.39 range,
Stop loss @20.68
Take profit @19.76
Risk to reward: 1:2
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.