DislikedI have a major question in my head about correlation..... it's been bugging me for a while now, so I thought I'd ask the wise and helpful members of this thread for their take!
basically, there are a number of pairs that all go up and down together, so what are the implications of that?
Just look at the attached screenshot and you'll see what I mean. I could have included GBPUSD, AUDUSD plus EURUSD at a squeeze..... they all basically run the same direction as each other.
So really a buy on GBPUSD is pretty much the same as a buy on AUDJPY........Ignored
Thats exactly why I trade/watch 2 or 3 pairs, IMHO more than that is just non sense.