Inside the Currency Market: MXN/USD

Note AUD/USD I stated sell point 0.7354, price turned short at 0.7351, off 3 pips. AUD/JPY. Price turned at 91.70, I stated 91.84. Why the miss, as mentioned prices will be uneven. Dead on call. Why. I may miss by 1-3 pips but never, never 15. A miss by 15 pips for me is literally impossible. Mentioned 91.54 – 91.84 was danger treacherous zone to trade. We knew long before what to expect. Yet the trade was profitable as well as AUD/USD. Every trade for us is profitable and will continue to be profitable by far more than 20, 30 pips.

MXN Bottom 16.2943. Another big move ahead for MXN. Overbought sell point 16.4866. Range break above 16.4580 and 16.4990. Range break below 16.2943. Note the bottom point coincides with a range break today, today only.

Strategy. Long above 16.3762, target 16.4866. Watch 16.4580 as this is a range break. Point 16.4580 could be target, a break above 16.4580 stay to 16.4866. Points on the way 16.4220, 16.4269, 16.4318, 16.4592, 16.4866.

Brian Twomey, Inside the Currency Market, btwomey.com

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s