MXNUSD: Tight stop long (or short USDMXN)

We can take a long Peso position here, risking a drop below October 11th's low here (in the USDMXN chart, it would be Oct. 11th's high, 19, give or take).
The market is favoring Hillary Clinton's odds to win the election, thus propelling MXN up.
For now, that's what it seems to be happening. A rally from here and a solid daily LOW above -17.8395 (under 18.8087 in USDMXN, the Brexit Key Level), would confirm my bullish bias on the Peso.

Good luck,

Ivan Labrie.

Comment:

Stop at entry price.

Comment:

Good boost, expanded daily range. We can safely hold it for a couple days more.

Trade closed manually:

Banked for now, since it's not breaking below the Jackson Hole support for now. Profit was 1.4%, max average excursion: 0,01329 - profit: 0,17407
So, realized risk/reward was: 13:1

Comment:

We can short again on retracement. In case it doesn't retrace, we can sell a 0.5% risk position if price makes a new low, but it's not ideal. Personally, I'll fade short term rallies.

Comment:

Trade active:

Reshorted this pullback with the stop on chart above.
It probably won't make it to the sell limit order level.
(specially if we don't go any higher than this in the hourly)

Comment:

$USDMXN didn't react to oil rallying...I moved my stop to entry here.
s3.amazonaws.com/tra...shots/6/6HhNrbnP.png
it should drop instantly...if it doesn't I don't want to be in.

Trade closed manually:

Covered short at weekly support, also, this was the last day of the projected 'time at mode' downtrend signal.

We can flip long with stop at 17.84492, risk 1%