I have been short biased for awhile on USDMXN as you know.
I adjusted the angle of the current descending channel, we shall see how accurate the channel is this week.
This time I carried a trade over from Friday, something I almost never do. I get anxious holding overnight let alone over a weekend.
In this instance, my trade just took profit, which makes me quite happy. I was beginning to become concerned I was stuck in a sell at the bottom of the channel and that a bounce to the top was coming (circa 19.10 possibly?)
I will continue to look for shorts as I am not interested in being stuck in longs due to the extremely high swap costs. The bear trend and channel lends to this idea.
This could turn bullish if dollar recovers this week of course, something to watch for.
I adjusted the angle of the current descending channel, we shall see how accurate the channel is this week.
This time I carried a trade over from Friday, something I almost never do. I get anxious holding overnight let alone over a weekend.
In this instance, my trade just took profit, which makes me quite happy. I was beginning to become concerned I was stuck in a sell at the bottom of the channel and that a bounce to the top was coming (circa 19.10 possibly?)
I will continue to look for shorts as I am not interested in being stuck in longs due to the extremely high swap costs. The bear trend and channel lends to this idea.
This could turn bullish if dollar recovers this week of course, something to watch for.