USDMXN - The pair is forming a triangle to complete purple wave 4. The triangle pattern is also forming another triangle as its green wave (e). The Wave Principle allows a triangle inside a triangle only in wave e.
HOW TO TRADE THIS SETUP -
Wait for price to break out of the green wave (e) triangle and look for buy setups to complete purple wave 5. The confirmation level is at high of blue wave (d). The whole triangle setup is invalidated when price retraces to 23.16708 where green wave (e) retraces below green wave (c).
HOW TO TRADE THIS SETUP -
Wait for price to break out of the green wave (e) triangle and look for buy setups to complete purple wave 5. The confirmation level is at high of blue wave (d). The whole triangle setup is invalidated when price retraces to 23.16708 where green wave (e) retraces below green wave (c).