Hi a good post, and something i have been searching for is a correlation indicator. Ideally it would show a table with the pairs listed (or perhaps you could select pairs you wish to watch) and timeframes or again the ability to select time frames maybe it would look abit like this
Pair 5min 30min 1hr 4hr day
£/JPY up up up up up
£/USD up up dwn dwn dwn
$/Jpy up up up up up
would save having to look at too many charts. But certainly when certain pairs are in sync then the move is stronger
thank you maybe someone can explore this further
http://www.forex-tsd.com/customavatars/avatar3448_1.gif goldenequity
To those of you who trade the GBP/JPY.....
How many of you did well at the beginning of the week (especially Wednesday)?
If you review your charts, you will find that when the GBP/USD and the USD/JPY are in "sync" it becomes "easy(er)" to trade the GBP/JPY.
When they are arguing with each other and moving opposite each other it becomes difficult.
From a fundamental analysis, look at it this way:
If the "market makers" (i.e."them"/"they") are selling the GBP and buying the USD (only), then the USD/JPY will be moving opposite of the GBP/USD. It makes trading the GBP/JPY very difficult, for obvious reasons.
If they are selling the GBP and buying the JPY, you will see ALL 3 Charts (GBP/USD, USD/JPY and GBP/JPY also EUR/JPY) move together in the SAME direction.
The charts I posted, (within reason) began to synchronize and move the same direction at the same time in the beginning of the week (selling GBP/buying JPY), and strongly reversed on Wednesday(buying GBP/selling JPY), and they became disconnected on Thursday/Friday as the markets focused more on the USD.
They (market makers) were (simultaneously) STRENGTHENING (then weakening on Wednesday) the DOLLAR and the YEN at the expense of the GBP.
When they are strengthening the DOLLAR ONLY, it will be at the expense of the YEN (typically) and the charts move opposite.
To put it simply from the technical analysis side, the best time to trade the GBP/JPY is when the GBP/USD and USD/JPY move in
the same direction.http://www.forex-tsd.com/images/smilies/smile.gif
This is why it is crucial to be able to simultaneously moniter the USD, even if you are trading the GBP/JPY.
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Vote Ron Paul 2008 ".....it's later than you think."
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Pair 5min 30min 1hr 4hr day
£/JPY up up up up up
£/USD up up dwn dwn dwn
$/Jpy up up up up up
would save having to look at too many charts. But certainly when certain pairs are in sync then the move is stronger
thank you maybe someone can explore this further
http://www.forex-tsd.com/customavatars/avatar3448_1.gif goldenequity
To those of you who trade the GBP/JPY.....
How many of you did well at the beginning of the week (especially Wednesday)?
If you review your charts, you will find that when the GBP/USD and the USD/JPY are in "sync" it becomes "easy(er)" to trade the GBP/JPY.
When they are arguing with each other and moving opposite each other it becomes difficult.
From a fundamental analysis, look at it this way:
If the "market makers" (i.e."them"/"they") are selling the GBP and buying the USD (only), then the USD/JPY will be moving opposite of the GBP/USD. It makes trading the GBP/JPY very difficult, for obvious reasons.
If they are selling the GBP and buying the JPY, you will see ALL 3 Charts (GBP/USD, USD/JPY and GBP/JPY also EUR/JPY) move together in the SAME direction.
The charts I posted, (within reason) began to synchronize and move the same direction at the same time in the beginning of the week (selling GBP/buying JPY), and strongly reversed on Wednesday(buying GBP/selling JPY), and they became disconnected on Thursday/Friday as the markets focused more on the USD.
They (market makers) were (simultaneously) STRENGTHENING (then weakening on Wednesday) the DOLLAR and the YEN at the expense of the GBP.
When they are strengthening the DOLLAR ONLY, it will be at the expense of the YEN (typically) and the charts move opposite.
To put it simply from the technical analysis side, the best time to trade the GBP/JPY is when the GBP/USD and USD/JPY move in
the same direction.http://www.forex-tsd.com/images/smilies/smile.gif
This is why it is crucial to be able to simultaneously moniter the USD, even if you are trading the GBP/JPY.
__________________
Vote Ron Paul 2008 ".....it's later than you think."
www.ronpaulaudio.com
www.ronpaulforums.com[/quote]