TMS for M30 charts

Quoting likica

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{quote} it does not work the same way with ECAD by looking at UCAD & EU. Take a look at ECAD right now (choppy) while UCAD is diving and EU is flying

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Quoting likica

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{quote} I would not go in a short div if price kept making HHs HLs and against DOL

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Quoting Scrambleguy

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{quote} Gotcha, I was looking at your example on the first post ( pic 3) but yes I see now the difference was the higher high above the dol. keep on learning.

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Quoting pips29

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{quote} ever thought about going to "specsavers" bro.??

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Quoting likica

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{quote} it does not work the same way with ECAD by looking at UCAD & EU. Take a look at ECAD right now (choppy) while UCAD is diving and EU is flying

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Quoting waqz12345

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{quote} yes but isn't that because U/CAD diving indicates CAD strength and E/U flying indicates EURO strength.... thus if CAD + EURO both are strong we'd expect choppiness with E/CAD since both currencies are relatively strong and it is difficult to assess which is the stronger of the two?

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Quoting pips29

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{quote} absolutely correct

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Quoting waqz12345

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{quote} so could this idea be used with all currency's? So... where X and Y can be any two currency's.. Compare X/U (or U/X) to understand relative strength of X Compare Y/U (or U/Y) to understand relative strength of Y So then understanding X/Y (or Y/X) can be a little more clear as you know their relative strength to each other (by having compared them to that of the dollar)? Or am i giving far too much importance to how much intrinsic value the USD gives a currency? Would it be recommended to keep one of the variable currency's as Euro?

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Quoting pips29

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{quote} hello Likica, hope all is well with you. I also caught the flu and recovering gradually. What you said above is not correct imo

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Quoting pips29

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{quote} I don't quite understand what you meant with the last question concerning the euro..ever pair that I have traded so far has something to do with the strength of the US dollar..perhaps you can show us with an example what you meant

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Quoting likica

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{quote} hi Pips29, why didn't you catch something more interesting than a flu :-), just kidding, hope you are perfect today as it's Friday, time for parties ;-))) I m not sure if I got my message clear, just to make it clearer to what I meant that I would not look at UCAD EU to take ECAD trade like the way I look at GU EU to enter EG trade. pls express why you said I was not correct...

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Quoting waqz12345

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{quote} My point was the reason you comparing GU and EU before trading EG works is because: GU establishes strength of G (against dollar) and EU gives strength of E (against dollar). Thus if there is a difference in the two currency pairs; then EG will be a good trade (because the currency stengths (E and G) are going in opposite directions against the dollar). So I thought can this concept be applied to other currency's... Using CAD as an example... Why don't I check UCAD to check strength of CAD. Check EU to check strength of E. And then if the...

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Quoting waqz12345

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{quote} okay great, so the US dollar does work as an indicator of strength of a currency, that's really helpful to know. My question fundamentally is if USD rises, does EUR go down generally (and vice versa)? Thus making EUR a somewhat anti-dollar..? Thanks for the help btw likica and pips29 btw... i'd be lost without this thread tbh

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Quoting likica

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{quote} hi Pips29, why didn't you catch something more interesting than a flu :-), just kidding, hope you are perfect today as it's Friday, time for parties ;-))) I m not sure if I got my message clear, just to make it clearer to what I meant that I would not look at UCAD EU to take ECAD trade like the way I look at GU EU to enter EG trade. pls express why you said I was not correct...

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Quoting pips29

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{quote} It depends on the currency you are pairing with. It is not unusual to find e/u going down but other cross pairs with the euro going up, for example you will find e/y going up even though e/u is going down.,,so it really depends which is the weaker currency...currencies are correlated in one way or another...it would be strange to find both e/u and u/chf moving in the same direction as they are inversely correlated..when I trade u/cad I tend to look at the aussie for in my experience they move in opposite direction...hope this little bit...

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Quoting likica

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EU bounced off multi layers of supports with hidden div and a bullish outside bar {image}

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Quoting trade786

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{quote} Hey likica can u share your sup and resistance indicator please thankyou

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