The Usd/Mxd pair had broken the 800sma SurpriseBox on the 15 min chart to the downside. Resistance of 200sma was broken with the move out of the box. The sudden decrease in price concurred after news event (FOMC Minutes). The brake formed a double top pattern. Recent low price expected to be reached although resistance might serve as target.
Disclaimer: I trade the patterns depicted either at the entry point stated (e.g. trading channel, breakouts) or afterward. Although my trades are based on technical analysis, trading forex is a risky activity and may produce significant monetary loss. I only make public the trades that I am considering to make, or made and the rational for them. Not intended necessarily as trading recommendations. By SurpriseTrade@gmail.com
