Taking a small 20x leveraged trade on USDMXN Hedge funds have likely just piled into this carry trade, as well as MX bonds due to the recent surprise rate pause. The trade has been so successful that it is now creating the fuel for a violent short squeeze as CL goes parabolic and once again breaks EMFX but this time in much more spectacular style compared to March. Technically there is a daily level 2 bullish exhaustion signal right into HTF demand zone. This trade is low probability in that it is outside my system and a discretionary trade. Hence the small position size.