Dolar A.S. / Peso Mexico
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USDMXN - Short with tight Stop !

154
We have a clear impulsive wave down, and are currently in wave 4 which is playing out as a Triangle.
We can short this because we have a very tight defined Stop which is above wave E of the triangle.
Nota
Good Risk Management is the key to success!
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Ranking system for my trades

Rank 0, 1, 2, 3

0 = risk the most, it's when all stars are aligned, the gods love us. (very rare)
2 = our everyday trade
3 = risk the least, it's our least confident trade but could have a nice ROI if goes well.

Do something like this.
0 = 5% to 1 = 2.5%, 2 = 1%, 3 = 0.5% of your equity.
Change the values as you wish but
I do not recommend risking more than 5%!

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Nota
We might see price come down to 18.08, which would give a 1 to 8 Risk/Reward ratio !
Nota
Looking at this now. We should see a wave C higher. syot kilat
Nota
Short position closed out.
Nota
Look for 19.40 - 19.50 as potential resistance zone
Nota
Price turned at expected resistance zone.
Look for new entry after pullback of wave (ii) syot kilat
Nota
You can enter at market price 19.31 and re-enter at higher price with
Pending Order at 19.34.
Stop: 19.50
Target: to be determined
Nota
We can move our Stop to 19.39. We are at the neck line of this H&S pattern. If you didn't take this trade yet, wait for the neck line to break before shorting. syot kilat
Nota
Can move Stop to break-even.
syot kilat
Nota
Price urned around close to our stop but luckly without touching it. syot kilat
Nota
Stop reached.
syot kilat

Penafian

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