Best Thread Correlation Trading - Basic Ideas and Strategies

[NVP]

GU

Update for 9 00 am

Bullish atm with price at a new morning high of 5446 so far

its only gone up approx 20 pips from EO - so its a puppy compared to the EA lion of 60 pips in 20 mins

PA not nice - choppy

News in approx 30 mins

Will also check out GJ and GA - 2 more beasts for news

Red GBP is having a great London session.........so if I were trading it would be selling usd (as already mentioned in prev posts) and hammering the GBP bull

nice recent period
N

 

[NVP]

hey all

I would still be selling the usd off of the natural London resistance level ....cad and gbp buys would have been my main plays .............the Cad is still a mega dog though so be careful........I did say that the Cad may pull north off of profit taking .....but this is small beer at present

cheers
N

 

[NVP]

heres an interesting live chart ...........allows you to pick currencies over timeframes and see the relative strengths.....I have plenty of bespoke stuff like this I use tailored to my tastes but this one here is free and a lot more user friendly than the beasts I use !

N


http://spreadbettingreview.co.uk/trading-tools/currency-strength-index/

 

[NVP]

heres the Week ...I missed most of it ...........a couple of scalping sessions before my consultancy starts .........but boyboy I missed some great sessions !!!

USD was a major buy in the week ...chart 1 .......it came north on EVERY day .....that's class !

nearly 200 pips cumulatively gained in the week on usd index alone (add those to any falling pips on currencies for the pair gains)

since most londons saw bull action (and deff us sessions) .....look at chart 2 ..........I would have been hammering any currency showing weakness into the bull usd

CAD was a major seller in the week (brown)........less than 100 pip fall in the end but huge drawdowns mid week..........Ucad only made less than 300 pip move in week .....but nice moves

Blue Euro was sell of the last 2 days ............boyoboy gimme more ........200 pip drop I like on week .........340 pip selloff on EU for week .........ALL in last 2 days !

such is life ...........I trade these kind of charts below live and on 1 mins when scalping........I have to see relative strength at all times on my 6-8 currencies I scalp .........how else can you see the market and opportunities ?

hard ? ......well not really ...........just practice .........and a lot of screentime ......and sticking to some real basics ..........perhaps one day I will train some traders up when time allows

until then I am back in consulting mode for next 6 months .........and only getting to trade max 1 hour a day ......

N

 

[NVP]

heres those rules ..............

apologies some will be a little puzzling to anyone not seriously into Strengthmeter dynamics .......but they work ...........and an old youtube from 2013.....jees only 500k views at that stage ......1.2m now on this thread so thanks to those who follow me .........

N

 

[NVP]

http://www.trade2win.com/boards/for...t-eur-usd-three-months-now-6.html#post2646628

interesting piece on longer term trading..............

hey I focus on Scalping when in the saddle...but I have no problem giving forecasts on longer time frames !

N

 

[NVP]

morning all............I have perhaps 30 mins left of trading time before I start work

USD has opened the week bearish but nothing to write home about

see below ..chart1 ..I will bounce the R / S lines shown ........or then trade the breaches if they come

cant be bothered to chase it too much on a Monday..........

gbp is the sell currency if taken

 

[NVP]

ok im going to look to sell usd soon on the resistance line

euro (not shown is coming bull ..........I am looking to BUY EU on the hit

N

 

[NVP]

1036 the current price level.............damn euro weakening as well

 

[NVP]

ucad sells looking good as well

 

[NVP]

1036 the current price level.............damn euro weakening as well

in on EU at 36..............

 

[NVP]

usd has sold off as predicted ....................euro did not pick up the baton though sadly

later
N

 

[NVP]

a few pips this morning but nothing much for me .........

EU buys and UJ sells ............but peanuts

ok back later
N

 

[NVP]

morning all

usd a little skittish this morning .............immediate retraces off the Asian bear session from 6am .................ive gone bull on it since then

N

 

[NVP]

no complaints from me selling Europeans since 6am ......

 

[NVP]

ok heres the battle lines drawn for usd ...........

trade inbetween the 10 pip range (bouncing off S/R level

if it breaches wait for confirmation and then follow the move

later all .............half an eye on charts but also busy elsewhere

N

 

[NVP]

test...........

 

[NVP]

hey all

looks like a great usd session unfolding ...........plenty of usd bull action so far !!!

heres the day as viewed by the ole Greenback .......

see how the usd held Asian highs ?...sell sell sell usd when it came

but then finally the usd early action tests that line again ..........then busts it open on early trading

a classic set of patterns for a trading day .....if you follow this kind of approach to trading like I do

later
N

 

[NVP]

morning all ...............

heres my take on action so far this morning ..........usd had a good us session and this has flowed into Asian ..............that's a solid bull move .........nearly 20 pips in Asian session

its definitely retraced since ..........I like this pattern as it sets me up for London bull........but I havnt seen it yet .............

hmmmm........tricky so far

N

 

[NVP]

cant tempt the USD north at moment

some nice biuys on CAD and Euro presently

cheers
N