Trading correlation pairs by using the other pairs | Page 20 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

MT4 MTF Correlation table and Correlation oscillator indicators 155 replies

Trading Crosses Using Correlation and Strength of Major Pairs 2 replies

Tribute to Madlen and other good programmers- Correlation indicators 2 replies

Using usd/chf - eur/usd correlation to see moves in EUR/USD 46 replies

Using PNN to capture the correlation between past and present data... 1 reply

Attachments: Trading correlation pairs by using the other pairs
Exit Attachments

Trading correlation pairs by using the other pairs

  • #381
  • May 28, 2020 3:30am May 28, 2020 3:30am
Move stoploss to break even.
And moves take profit line it's moving fast

Attached Image (click to enlarge)
Click to Enlarge Name: thu3.png Size: 98 KB
  • #382
  • May 28, 2020 3:52am May 28, 2020 3:52am
Quoting redfan
Move stoploss to break even. And moves take profit line it's moving fast {image}

hi redfan.

it is good trade. cong.

i prefer euraud because 1.0990 is support of eu. so euraud give me more profit i quess. it is prediction ok!. we will se result.

btw if stock indices go down more. audusd will be better.
  • #383
  • May 28, 2020 4:43am May 28, 2020 4:43am
Quoting P.Action
{quote} hi redfan. it is good trade. cong. i prefer euraud because 1.0990 is support of eu. so euraud give me more profit i quess. it is prediction ok!. we will se result. btw if stock indices go down more. audusd will be better.

I'm afraid I got a bit twitchy and took profit.

I finish £40 up, but that's just the nature of this game.

Good luck.

  • #384
  • May 28, 2020 4:45am May 28, 2020 4:45am
It was moving fast. I see it's going the other way.
  • #385
  • May 28, 2020 5:05am May 28, 2020 5:05am
Quoting redfan
It was moving fast. I see it's going the other way.

that was trap move. when those trapped traders blow huge move reveal.
  • #386
  • May 28, 2020 5:44am May 28, 2020 5:44am
Quoting P.Action
{quote} that was trap move. when those trapped traders blow huge move reveal.

here is facts

last mohikan sellers is above 1,6675

Attached Image (click to enlarge)
Click to Enlarge Name: euraud.png Size: 45 KB
  • #387
  • May 28, 2020 6:39am May 28, 2020 6:39am
Quoting P.Action
{quote} here is facts last mohikan sellers is above 1,6675 {image}
Very clear information on the picture tells 1000 stories
a question on something else about your chart
how do you draw circles and nicely coloured boxes,
again, Thank you for your input.
  • #388
  • May 28, 2020 6:53am May 28, 2020 6:53am
Quoting redfan
{quote} Very clear information on the picture tells 1000 stories a question on something else about your chart how do you draw circles and nicely coloured boxes, again, Thank you for your input.

i draw it with paint. but you can use elipse in mt4. yellow ones are rectangle.
  • #389
  • Edited 9:34am May 28, 2020 9:23am | Edited 9:34am
Quoting P.Action
{quote} here is facts last mohikan sellers is above 1,6675 {image}
Always look at the Market Structure from Top/Down to see the big picture.
I always start at H4, but a glance at D1 & W1 always helps.
You can trade against it on the shorter timeframes, of course, but remember when you are swimming against the flow.
Good place now to see if the zone is rejected Down or Breaks above & bounces Up.

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD weekly.png Size: 125 KB


Next Possible Move:

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD weekly2.png Size: 120 KB
It never gets easier, you just get better
  • #390
  • Edited 1:23pm May 28, 2020 1:09pm | Edited 1:23pm
Quoting Shabs19
{quote} Always look at the Market Structure from Top/Down to see the big picture. I always start at H4, but a glance at D1 & W1 always helps. You can trade against it on the shorter timeframes, of course, but remember when you are swimming against the flow. Good place now to see if the zone is rejected Down or Breaks above & bounces Up. {image} Next Possible Move: {image}

thnx shabs.

i am looking higher tf(i follow all tf). additional to you we must follow stock indices. when they up aud up too. for aud pairs there is no difference they are all at top. today indices are very bullish. today i was long at euraud. eur is bullish but unfortunatelly aud was bullish too. i satyed between euraud and eurcad long. i choose euraud here is difference. that was mistake. if you look all eur chart they made higher highs. eur aud will do too.
my base money was eur today. that wasnt "swimming against the flow"

i took some profit from eurgbp long indice long. and also small euraud long. +%12. so day is close for me. best wish for all of you.

Attached Image (click to enlarge)
Click to Enlarge Name: eurcad.png Size: 47 KB


Attached Image (click to enlarge)
Click to Enlarge Name: finviz.png Size: 25 KB
  • #391
  • May 28, 2020 2:23pm May 28, 2020 2:23pm
These are the five things I check, but I've got to be honest, I don't do it all the time.
I've tried to make a tick box for these five things, But I can't get it to work on the charts,
1/ The pair you are trading, check currency strength against the EU and the US,

2/. Is the pair you are going to trade correlated with these two pairs do they move with them or against them.
3/ Check 4H and the daily chart, what colour is the candles
4/ Draw A support line or a resistance line in the one hour chart,
Now go to the one minute chart and watch to see if it has broken the line in the next five candles or minutes,
5/ which side is the moving average on,
Is the moving average colours, crossing over each other. This is very important.
The HIGH moving average should be under the LOWER moving average when moving upwards,
And above the LOWER moving average when moving downwards,
check the moving average in the 30minute timeframe.
If the resistance support has not been broken and the moving average is not crossed.
You can go with the candle colour. Trading in the one hour chart
So the trade is running,
Go back to the one minute chart and watch the candles go up and down.
They must not break the moving average.
In other words, they must come down to the moving average and then carry on going back UP,
and in reverse. They must come up to the moving average and then carry on going back DOWN.

Attached Image (click to enlarge)
Click to Enlarge Name: CIRCLE.png Size: 117 KB

Attached Image (click to enlarge)
Click to Enlarge Name: NEW.png Size: 112 KB
  • #392
  • May 28, 2020 2:52pm May 28, 2020 2:52pm
Quoting P.Action
{quote} thnx shabs. i am looking higher tf(i follow all tf). additional to you we must follow stock indices. when they up aud up too. for aud pairs there is no difference they are all at top. today indices are very bullish. today i was long at euraud. eur is bullish but unfortunatelly aud was bullish too. i satyed between euraud and eurcad long. i choose euraud here is difference. that was mistake. if you look all eur chart they made higher highs. eur aud will do too. my base money was eur today. that wasnt "swimming against the flow" i...

https://www.fxstreet.com/education/c...l-201911291328

I wonder if its better to trad oil and gold based on what forex did the night before or better to trade forex based on what oil and gold did the day before?

What is following what is my question? which is the leader and which is the follower? how do we know?

Is it mostly the USD session for committees and the london session for forex that matters?

TYIA
  • #393
  • Edited 3:39pm May 28, 2020 3:22pm | Edited 3:39pm
Quoting redfan
These are the five things I check, but I've got to be honest, I don't do it all the time. I've tried to make a tick box for these five things, But I can't get it to work on the charts,
How about having a checklist on each chart that you can tick off ?

Attached Image (click to enlarge)
Click to Enlarge Name: checklist.png Size: 110 KB


Indicator & set file. Set file goes into Presets folder. I have put your rules in for you in the preset file for you. You can edit them of course.
Attached File(s)
File Type: rar Checklist.rar   217 KB | 241 downloads
It never gets easier, you just get better
  • #394
  • May 28, 2020 3:33pm May 28, 2020 3:33pm
Quoting dagoods
{quote} https://www.fxstreet.com/education/c...l-201911291328 I wonder if its better to trad oil and gold based on what forex did the night before or better to trade forex based on what oil and gold did the day before? What is following what is my question? which is the leader and which is the follower? how do we know? Is it mostly the USD session for committees and the london session for forex that matters? TYIA
Each market observes what the other is doing, Stockmarket & Commodities will influence Risk On/Off. Forex exchange flows with changes in interest rates, carry trades, seasonal forex/commodity moves in the market, Red News events in the majors, New highs, New Lows in markets, Bond markets, Govt. T-Bills auctions.

There is a connection & co-operation between the sessions, you just have to watch the charts to see this everyday.
It never gets easier, you just get better
  • #395
  • May 28, 2020 4:06pm May 28, 2020 4:06pm
Quoting Shabs19
{quote} Each market observes what the other is doing, Stockmarket & Commodities will influence Risk On/Off. Forex exchange flows with changes in interest rates, carry trades, seasonal forex/commodity moves in the market, Red News events in the majors, New highs, New Lows in markets, Bond markets, Govt. T-Bills auctions. There is a connection & co-operation between the sessions, you just have to watch the charts to see this everyday.
Is there a good Website to check the US stock markets or that publishes what is correlated from US stock market session to london forex session?
  • #396
  • May 28, 2020 4:36pm May 28, 2020 4:36pm
Quoting dagoods
{quote} Is there a good Website to check the US stock markets or that publishes what is correlated from US stock market session to london forex session?
You can check visualy Daily/Weekly / Performance of markets here:

https://finviz.com/futures.ashx

Attached Image (click to enlarge)
Click to Enlarge Name: Market Performance.png Size: 260 KB


Attached Image (click to enlarge)
Click to Enlarge Name: Daily Performance.png Size: 59 KB


Comparison Apples with Apples:
https://www.barchart.com/futures/heat-map



Interest Rates:

https://www.deltastock.com/english/r...te_history.asp
It never gets easier, you just get better
  • #397
  • May 28, 2020 5:10pm May 28, 2020 5:10pm
Since this thread is about trading correlations, this post has a nice indicator.

I haven't tested it or anything, please do due diligence,

https://www.forexfactory.com/showthr...6#post12444816
It never gets easier, you just get better
  • #398
  • May 28, 2020 5:12pm May 28, 2020 5:12pm
Quoting dagoods
{quote} https://www.fxstreet.com/education/c...l-201911291328 I wonder if its better to trad oil and gold based on what forex did the night before or better to trade forex based on what oil and gold did the day before? What is following what is my question? which is the leader and which is the follower? how do we know? Is it mostly the USD session for committees and the london session for forex that matters? TYIA
hi dagoods.

i rewiev your link. as i said before generalizing is wrong. he said gold and aud is highly corelated. it is not true. every money or other instruments has own character. you cant base on an instrument. for example usd is not base currency(except liquidty) sometimes usd sometimes eur sometimes other. for me base money is chf. all chf pairs are in a narrow band. you can check. that means every money corelated with chf time by time.

Attached Image (click to enlarge)
Click to Enlarge Name: korel.png Size: 242 KB



true is aud correlated stock indices in these days.(not all time) here is daily us30 and audusd chart. nearly same chart. that is why aud go up since march 2020.

Attached Image (click to enlarge)
Click to Enlarge Name: us30.png Size: 125 KB
  • #399
  • May 28, 2020 5:20pm May 28, 2020 5:20pm
Quoting Shabs19
{quote} How about having a checklist on each chart that you can tick off ? {image} Indicator & set file. Set file goes into Presets folder. I have put your rules in for you in the preset file for you. You can edit them of course. {file}
This is great. I've downloaded them into the preset file, but how do I put them on my chart,
thank you for this great input,
  • #400
  • May 28, 2020 5:25pm May 28, 2020 5:25pm
Quoting P.Action
{quote} thnx shabs. i am looking higher tf(i follow all tf). additional to you we must follow stock indices. when they up aud up too. for aud pairs there is no difference they are all at top. today indices are very bullish. today i was long at euraud. eur is bullish but unfortunatelly aud was bullish too. i satyed between euraud and eurcad long. i choose euraud here is difference. that was mistake. if you look all eur chart they made higher highs. eur aud will do too. my base money was eur today. that wasnt...
Yes EURAUD made hihger high too
Attached Image (click to enlarge)
Click to Enlarge Name: high.png Size: 40 KB
0 traders viewing now