USDMXN Analysis - Short then Long
It seems we are setting up to complete a Wave 2 on an Intermediate Period and Wave C on Minor Period?
I have set up 2x positions for this trade. First SHORT and then LONG, once wave 2 has completed.
1) On market open, Position#1 will be activated SHORT to trade the remainder of wave C on Minor period which completes wave 2 of Intermediate period.
2) Once wave 2 is complete and initiates wave 3, on the breakout, position#2 will be activated.
This particular trade position#2 seems to be a great risk:reward ratio at 10.52 which if analysis is correct, should bring many many pips.
Additional: MACD has confirmed wave 3 and 5 and also A,B & C.
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NB: This chart is for sharing and educational purposes only and is not intended to be a signal service or similar.
Please do not trade this chart if you do not have your own strategy. Trade only with your own strategy.
Some very wise words: Plan your trade and trade your plan... and IF in doubt, stay out.
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I have set up 2x positions for this trade. First SHORT and then LONG, once wave 2 has completed.
1) On market open, Position#1 will be activated SHORT to trade the remainder of wave C on Minor period which completes wave 2 of Intermediate period.
2) Once wave 2 is complete and initiates wave 3, on the breakout, position#2 will be activated.
This particular trade position#2 seems to be a great risk:reward ratio at 10.52 which if analysis is correct, should bring many many pips.
Additional: MACD has confirmed wave 3 and 5 and also A,B & C.
------------------------------------------------------------------------------------------------------------------------
NB: This chart is for sharing and educational purposes only and is not intended to be a signal service or similar.
Please do not trade this chart if you do not have your own strategy. Trade only with your own strategy.
Some very wise words: Plan your trade and trade your plan... and IF in doubt, stay out.
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