Best Thread Correlation Trading - Basic Ideas and Strategies

[Akwin]

Can we predict future correlation?

 

[NVP]

Can we predict future correlation?

nope ....not really

 

[NVP]

Forex Diary 4th Dec 2020

hey all ....

great to see 2 very experienced traders calling the market on this thread ....thanks guys

this week has seen a Strong blue Euro play out against weaker

yellow Yen
Green USD
And then later the Aussie tag team ....(Orange and Turquoise)

GBP a little quietish......but mainly playing well Bull into the falling greenback

the FXCorrelator basic ma indicator is available Free in the signature Links below

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have a great weekend everyone
N

 

[MichaelJohnFX]

GBP been an absolute mare to trade this week. EUR pairs been very good to me. Good weekend all!

 

[MichaelJohnFX]

DXY at key monthly support. GBP, EUR hitting res. Expecting sell offs in these two next week. I really do not trust that thrust in GBP (personally think it's a bull trap). Will trade what i see as per usual, but the GBP short is my favourite one - price action to the upside looks suspect. Green line target.

 

[Akwin]

nope ....not really

Many thanks for directing me towards some knowledge concerning this field, but give me a chance to ask you the following: Meaning of : "The FXcorrelator indicator"

 

[MichaelJohnFX]

DXY at key monthly support. GBP, EUR hitting res. Expecting sell offs in these two next week. I really do not trust that thrust in GBP (personally think it's a bull trap). Will trade what i see as per usual, but the GBP short is my favourite one - price action to the upside looks suspect. Green line target.

Couple of key areas to watch potentially for a reaction... but am still favouring the downside lol

 

[MichaelJohnFX]

EURNZD + EURJPY. Will see what kind of reaction we get on the hourly candle(s). But do like these to the upside.

 

[MichaelJohnFX]

GBPJPY

 

[Dentalfloss]

 

[MichaelJohnFX]

GBPJPY update - a bounce. Looking for a fumble in the jungle around mid-red line before considering a long.

 

[Dentalfloss]

Gettin bought...A tad

 

[NVP]

Many thanks for directing me towards some knowledge concerning this field, but give me a chance to ask you the following: Meaning of : "The FXcorrelator indicator"

hey there .....look at some of the links below in my signatire area ....it will help ...or PM me

N

 

[NVP]

hey all

nice action selling Cable early this morning where it came off some 200 pips from around 7am GMT (europe opens)

its been retracing all day since so left it alone ....nothing else much happening

 

[MichaelJohnFX]

GBP trades nailed today. Unfortunately, GBPUSD happened overnight so couldn't get in on it but GBPJPY playing out well - just shy of T1 but i'll take it. See charts below for potential setups for tomorrow. Not sure we get that EURCAD move to yellow though where i'd be looking for a swing short. GBPJPY, red line...not entirely convinced on it, but will see how we react for a swing short to Nov 19th lows.

For those interested / still learning: Here's a link - explains pretty well thin moves like that in FX. One of my favourite setups when combined with higher time frame support and resistance areas + Wyckoff accumulation/ Distributions patterns. The R:R are v.good when done correctly

 

[MichaelJohnFX]

GBPUSD - blue line. Looking for a sweep of double bottom before considering swing long.

 

[MichaelJohnFX]

Whatever way GBPUSD moves, when it decides to get out of this range, gonna be pretty explosive. I'm still favouring one more spike down to blue before big move to upside.

 

[MichaelJohnFX]

CAD pairs look really interesting to the downside tomorrow. Potential areas for Swing shorts. Still tracking GBPUSD. Would love one more spike down.

 

[Dentalfloss]

Updated

 

[Dentalfloss]