USDMXN: Sell Short Entry
Good morning trader, today I share with you this short entry I made on the USDMXN pair as I found a good setup as shown in the main image above.
Based on my experience, I have codified a series of signals and triggers that I have incorporated into a single indicator which, as you can see from the image, shows me a clear and quick overview of the market, making the analysis faster and more intuitive.
The image therefore speaks for itself. We have a start of a bearish structure which is immediately confirmed by a short trend start signal and a structure confirmation signal.
The price then begins its descent, moving below the TrendCloud which, given the uncertainty, turns gray as it does not have a defined trend in itself. The price then returns to the ema21 which acts as resistance, where a short price action trigger is created with a reverse candle.
Subsequently we see the price return to the moving averages area where an FT Short signal appears which is not immediately confirmed. The price needs to create 2 more swing highs on the resistance area (TrendCloud / ema21 / ema100 / ema21 weekly) before confirming the signal, which it did on December 13th with the breaking of the last swing low , starting the new cycle in favor of the trend.
Going down to the 4H I entered a retracement in the ema21, with a stop above the highs and a take profit momentarily in the low area at 16.75 to be managed based on future movements. I expect a movement in the 16.95 area where I have highlighted a trendline of support at the lows where I could close all or part of the position if the price does not show the strength to continue.
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🔑 Get access to all my indicators for free for one week, or
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TAGS:
USDMXN USDMXN USDMXN USDMXN USDMXN USDMXN
Based on my experience, I have codified a series of signals and triggers that I have incorporated into a single indicator which, as you can see from the image, shows me a clear and quick overview of the market, making the analysis faster and more intuitive.
The image therefore speaks for itself. We have a start of a bearish structure which is immediately confirmed by a short trend start signal and a structure confirmation signal.
The price then begins its descent, moving below the TrendCloud which, given the uncertainty, turns gray as it does not have a defined trend in itself. The price then returns to the ema21 which acts as resistance, where a short price action trigger is created with a reverse candle.
Subsequently we see the price return to the moving averages area where an FT Short signal appears which is not immediately confirmed. The price needs to create 2 more swing highs on the resistance area (TrendCloud / ema21 / ema100 / ema21 weekly) before confirming the signal, which it did on December 13th with the breaking of the last swing low , starting the new cycle in favor of the trend.
Going down to the 4H I entered a retracement in the ema21, with a stop above the highs and a take profit momentarily in the low area at 16.75 to be managed based on future movements. I expect a movement in the 16.95 area where I have highlighted a trendline of support at the lows where I could close all or part of the position if the price does not show the strength to continue.
👍 Did you enjoy this sharing? If you also agree with my view, give it a like, I would appreciate it very much 😁
💖 Remember to follow me so you don't miss my future analyses.
🔑 Get access to all my indicators for free for one week, or
Write to me to find out how to get free lifetime access
TAGS:
USDMXN USDMXN USDMXN USDMXN USDMXN USDMXN 
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