USDMXN - Short with tight Stop !

٨ فبراير ٢٠١٩

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.

٨ فبراير ٢٠١٩

ملاحظة

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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٨ فبراير ٢٠١٩

ملاحظة

We might see price come down to 18.08, which would give a 1 to 8 Risk/Reward ratio !

١١ فبراير ٢٠١٩

ملاحظة

Looking at this now. We should see a wave C higher.

١١ فبراير ٢٠١٩

ملاحظة

Short position closed out.

١١ فبراير ٢٠١٩

ملاحظة

Look for 19.40 - 19.50 as potential resistance zone

١٥ فبراير ٢٠١٩

ملاحظة

Price turned at expected resistance zone.
Look for new entry after pullback of wave (ii)

١٥ فبراير ٢٠١٩

ملاحظة

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

١٨ فبراير ٢٠١٩

ملاحظة

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.

١٩ فبراير ٢٠١٩

ملاحظة

Can move Stop to break-even.

٢٥ فبراير ٢٠١٩

ملاحظة

Price urned around close to our stop but luckly without touching it.

٢٨ فبراير ٢٠١٩

ملاحظة

Stop reached.