USDMXN Exciting Bull Run! 

Last Updated: July 25, 2019

By Rayner

This is a currency pair that many traders neglect. But as a Trend Follower, we trade all markets because we never know when a trend may be emerging.

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On Daily we see strong bullish momentum towards the upside that started in November.

However it’s hard to identify historical patterns to exploit as price is compressed into daily candles.

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On 4 hour we see price tend to have shallow pullbacks towards the 20 EMA before rallying higher.

Traders can look to long on pullback or trade breakout towards the upside.

Good Trading!

 

        • Hi Rayner,
          Do you mean you will pay attention to them in a sideway movement, to buy from support and sell from resistance. But ignore them when market is trending strongly ?

          • I don’t trade range markets.

            When market is in uptrend, i will pay attention to support and ignore resistance.

            Hope that helps!

          • Hi Rayer,
            Are you saying that if prices revert to support after uptrend, it may mean the uptrend momentum is weakening and we must be prepared for a reversal where price breakthrough downwards later ?

          • Hi Rayer,
            Thanks for your swift response. What I know is you mentioned using ATR to calculate stop loss, may I know the rationale behind it ?

  • Hi Rayer,
    I always have issue with multiple time-frame analysis e.g must Monthly, Weekly and Daily time-frames be in uptrend for me to execute a buy setup and vice-versa for download ? What is your approach for that ?

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