This was a short trade. I believe some statements out of Japan (not on Calendar) moved the price around the time I was getting into the trade. I got short a little lower than i wanted to. Actually I didn’t have one click trading enabled in MT4 (We need to if we are scalping)

I exited the trade quickly for a few pips, though it did move lower.

The hourly chart shows how things were looking at the time. Below that, I show it zoomed in.

 

 

 

I found this interesting as we have a Trendline and a 61.8 Fibonacci level

 

This is a long term (Weekly) chart of US Dollar vs. Mexican Peso. We wouldn’t try to call a top in this pair. There is a lot going on from an Economic and Political perspective. However, there are some observations worth noting.

We have a Tweezers Top, Evening star pattern, a very weak close. Just for fun, we can draw a potential head and shoulders formation.

Can this shoot higher for the next month or two? YES.

But, we can start with an idea and see how it starts playing out.