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Wednesday, March 31, 2021

EURMXN - LONG - Possible Trade Upcoming in #April #Forex #Long

EURMXN - LONG - Possible Trade Upcoming in #April #Forex #Long

Euro / Mexican Peso FOREXCOM:EURMXN

Hi Guys,

As it's closing in on the end of the month, i've started looking at some options for April.

I've come across a potential LONG on the EURMXN with an R/R of 3, I say potential because we're not in a position yet to place the order.

So to explain the analysis, we're currently on a March long downtrend referred on the chart as dt1, and also closing into supports at Up1 and Sup1.

I think we're really early for this at the moment, but i've set alerts on dt1 as well as Up1 to see if we get any early action this week.

I'm really interested in convergence point "a". If price action either breaks through dt1, and retests, i will be considering a long. If price action moves sideways and outside of the dt1 downtrend, i will consider a long.

I will no longer consider a long if the price breaks down and significantly passes Up1.

Thank you for taking time to read this,

For_The_Many



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