USDMXN Look for sell setups here

5 Jul 2020

Hi traders:

USDMXN is on my weekly watch list.

Higher time frame we see price had a strong bear sell from the previous structure, and now has been in a corrective structure since early June.

We see price slowly correcting itself up, forming a wedge pattern. Last bit of price action we see price break below this structure, and a Head and Shoulder pattern in the making.

Now I just need to wait for one more confirmation from the market, if price begin to form a continuation correction on the lower time frame,

then we can expect bear momentum to continue, at least to the recent lows.

Thank you

5 Jul 2020

Nota

9 Jul 2020

Nota

Price formed a right shoulder by correcting itself up in an ascending channel. Then small sharp from followed by a correction.