On the daily timeframe, price has completed a 3-wave structure (ABC), hitting the ratio expectation between 20.39 - 20.97 area as well.
On the lower timeframe, we are seeing a diagonal structure forming with a divergence in RSI too.
These give us a good reason to be looking for a potential reversal trade on the USD/MXN, targeting 17.81 as the first target.
*Disclaimer - This analysis alone DOES NOT warrant a sell trade immediately. Before you enter any trade in the financial market, it is very important that you have a proper trading plan and risk management approach.
The sharing of this idea is neither necessarily indicative of nor a guarantee of future performance or success.
On the lower timeframe, we are seeing a diagonal structure forming with a divergence in RSI too.
These give us a good reason to be looking for a potential reversal trade on the USD/MXN, targeting 17.81 as the first target.
*Disclaimer - This analysis alone DOES NOT warrant a sell trade immediately. Before you enter any trade in the financial market, it is very important that you have a proper trading plan and risk management approach.
The sharing of this idea is neither necessarily indicative of nor a guarantee of future performance or success.
Nota
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.