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Strategies & Market Trends : John Pitera's Market Laboratory

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To: The Ox who wrote (18942)	4/5/2017 1:49:16 AM
From: John Pitera	3 Recommendations Recommended By Hawkmoon roguedolphin The Ox Read Replies (2) of 33421

HI Ox, --- the purloined Mexican Peso short here is the past 9+ months of the Daily chart.. the peso which has been a 1 way escalator up since early January after an elevator cable break collapse following President Trump's election...... the Peso has come back to the point where it broke down last November and you can see it's been a resistance zone over a number of months. The Peso has been exhibiting signs of rolling over for several days on the daily and especially the 60 minute charts... the chart below shows what appears to be an impulsive decline and a corrective wave up towards the .618 retracement... So we have shorted the Peso @ .05258 and put a very tight stop on the position @ .05271 ... 6 point above the 61.8% retracemnt This is a very short term 2 minute chart just to see what the those system marking look like.. I expect to get stopped out of this as the PESO should spend more time in a topping process and the rampage of a bull market since early January.. may not even be done.... but we are finally getting into the price levels where the Nov collapse occurred. JP

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