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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: The Ox who wrote (18953)	4/5/2017 11:00:46 AM
From: John Pitera	Read Replies (1) \| Respond to of 33421

Hi Ox, the Peso has almost completed it's round trip from it's huge decline post Trump election. 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. Possibly the .0535 or .054 level will be the level at which we will see a broader change in trend....... you are exactly right on your observations. It is a little early to anticipate a change in trend although looking at the 60 minute chart the Peso is stalling right below it's level since March 30th. some time it takes setting up a position or 2 with a close stop loss.... and you can get stopped out but the market action does more to confirm the underlying thesis.