Best Thread Correlation Trading - Basic Ideas and Strategies

[NVP]

this is the purist of all corrie moves

europair one way and Tag the other...heres the 1m 14/3 corrie to prove

N

 

[NVP]

and heres the 1m and 5m 14/3 index corrie with most markets in the top floor with the europair.....

thats as good as you get for a correlation play !

N

 

[NVP]

so now what NVP ?

well I'll tell you.....theres plenty of S/R clues around so lets examine the evidence below

everyone is consolidating a little so time to see if any recently breached S/R levels now reverse
in their function and hold...

on the central 5m chart i want to see the Euro Hold firm and not fall below that support line and ideally I want the Yen not to rise back above the last resistance line....the Usd is actually still in a range and the GBP has plenty of fallback before we think its going south again

on the 30m far right...only the yen is giving a breach clue (down) most others still wrangling inside ranges


wait !
N

 

[NVP]

Jees I missed it..........GBP in charge so far so move up the stop level again

markets supporting the Tag fall & europair climb

N

 

[NVP]

not convinced about the next push up as the 1m corrie index (top right) has not got a big push from the markets now....they are losing momentum

so tighten up big time on S/L

hopefully the markets will push again !

N

 

[NVP]

1m markets are moving up a little again....perhaps Euro may take over now as GBP can sometimes falter after a long drive upwards....

 

[NVP]

the markets are really trying to drive upwards bon the 1m - but look at the Europair......zilch !

 

[NVP]

its going flat now.........re set yuor S/R lines on the 1000/1 corrie charts you have up...5m and 30m are obligatory ....perhaps have the 1m up as well for fine tuning

N

 

[NVP]

i'm thinking that its time for a little retracing...my monies on a GBP fall with the other currencies holding or rising now.....

sell GBP on it breaching the red horiz on the 1m corrie 1000/1 below


a little Buy E sell G might be on the cards as well.....n

 

[NVP]

do it !!!!

 

[NVP]

ouch.......sorry i'll keep quiet......gotta go anyway !

later
N

 

[jrplimited]

Hi N and all else,

Sitting on my hands this morning just for a change, waiting for something to trade. This morning's London open spikes on G/U and E/U left me cold as the inch or snow outside my window, trying to trade a sudden violent move like these is not sensible in my book so its a case of the waiting game.

N; At the moment G is in charge and it seems like E is current whipping boy, although that status might be short lived, and as you said earlier on it really is a case of walking carefully today on the treacherous ice...

Trade well and regards,
Simon.

 

[NVP]

slow retrace now from GBP with other currencies rising

I said that the E/G buy was a thought.....

N

 

[NVP]

Hi N and all else,

Sitting on my hands this morning just for a change, waiting for something to trade. This morning's London open spikes on G/U and E/U left me cold as the inch or snow outside my window, trying to trade a sudden violent move like these is not sensible in my book so its a case of the waiting game.

N; At the moment G is in charge and it seems like E is current whipping boy, although that status might be short lived, and as you said earlier on it really is a case of walking carefully today on the treacherous ice...

Trade well and regards,
Simon.

wise words JRP......we have about 6 inches of snow on the south coast and it is a winter wonderland......until you need the car !

N

 

[jrplimited]

Hi N,

So Sloooow.... Am able to post near real time at moment. G/U sell stop order at 61948 just placed.

Simon.

 

[jrplimited]

Bar steward price came within a scratch of filling that.
Simon.

 

[jrplimited]

Filled and hells teeth, price run right out of steam.
Simon.

 

[NVP]

7.15 range bar - rollcall

ok........what happened ?

heres the results......the top left is a indexcorrie 5m on 14/3...the middle is our
1000/1 5m standard corrie....verts are the 7.15am bars

G/U - 90 pips theoretically here....half would have done !

E/U - after a miniscule false tease south there was about 25 max pips from the northern bar range break......

G/E - nice smooth 30 pips selling the Euro...

not a bad mornings haul from this idea..........the markets turned
on a sixpence and that top left chart shows the markets started to storm up as well from 7am supporting the moves

N

 

[NVP]

Filled and hells teeth, price run right out of steam.
Simon.

ouch...........felt that one.......

 

[NVP]

markets supporting a G rise again