USDMXN setting up. It is a little early in the price action to open a position but according to time of day, 30 minutes until US stock market opens on a Friday and the positive swap rate I went ahead and opened sell anyway. If the trade goes against will monitor on the 4 hr.
Hit tp .01/$1 Ten minutes. While this strategy is good for anything that is traded. l prefer forex and only pairs that have positive swap rates since sometimes several positions have to be opened for a net gain and held over a period of time. Presently only EURNOK and USDMXN fit this requirement. The swap rates change all the time. I check once a week.
NOTE: The ideas posted here are simply my own speculations on what might be happening in the market. They are in no way recommendations for trading with real funds. Without sufficient experience it is possible to sustain significant losses. I know people who became overwhelmed by the trading experience and lost upwards of $20,000. Please use caution. Practicing trading in a demo account is an excellent way to become more proficient. This is for educational purposes only.
Please see strategy description: