Simple.
Watching 6 pairs, and when trend starts, is good to go.
Re: YEN Trading M1
2USD was strong today, so no real trend, not all lining up so to say, but AUD, NZD and GBP could have been traded.
and they are like 3 pairs, AUD-NZD, GBP-EUR and USD-CAD, just additional info, if you did not know that, (geological reasons I guess)
and they are like 3 pairs, AUD-NZD, GBP-EUR and USD-CAD, just additional info, if you did not know that, (geological reasons I guess)
Re: YEN Trading M1
5I don't understand that. Who is like 3 pairs?FBI wrote: Thu Jul 19, 2018 11:44 pm USD was strong today, so no real trend, not all lining up so to say, but AUD, NZD and GBP could have been traded.
and they are like 3 pairs, AUD-NZD, GBP-EUR and USD-CAD, just additional info, if you did not know that, (geological reasons I guess)
AUD pairs were good today.
Re: YEN Trading M1
7I thought that it was clear what we are talking about here, because thread subject is: YEN trading, but I can write that JPY too if someone really needs it to understand.
AUD-JPY and NZD-JPY
GBP-JPY and EUR-JPY
USD-JPY and CAD-JPY
So these act very similar way, usually, like pairs, like twins.
Market opens first in NZD and AUD, they very often shows what EUR and GBP will do when EUROPE opens, and later when NORTH-AMERICA starts trading, USD and CAD follows.
Anyways, that is not so important, just take trades, when there is a real trend. Your charts will tell you when that happens.
AUD-JPY and NZD-JPY
GBP-JPY and EUR-JPY
USD-JPY and CAD-JPY
So these act very similar way, usually, like pairs, like twins.
Market opens first in NZD and AUD, they very often shows what EUR and GBP will do when EUROPE opens, and later when NORTH-AMERICA starts trading, USD and CAD follows.
Anyways, that is not so important, just take trades, when there is a real trend. Your charts will tell you when that happens.
Re: YEN Trading M1
8I did sell GBP-JPY
when this happened in USD-JPY,
should have shorted USD instead, but usually it is so lazy.
when this happened in USD-JPY,
should have shorted USD instead, but usually it is so lazy.
Re: YEN Trading M1
10FX is always about currency pairs, but you meant the correlation of the pairs. NTL, I would see a high correlation across all tfs to the pairs (description referred to base currency):FBI wrote: Fri Jul 20, 2018 3:44 am I thought that it was clear what we are talking about here, because thread subject is: YEN trading, but I can write that JPY too if someone really needs it to understand.
AUD-JPY and NZD-JPY
GBP-JPY and EUR-JPY
USD-JPY and CAD-JPY
So these act very similar way, usually, like pairs, like twins.
Market opens first in NZD and AUD, they very often shows what EUR and GBP will do when EUROPE opens, and later when NORTH-AMERICA starts trading, USD and CAD follows.
Anyways, that is not so important, just take trades, when there is a real trend. Your charts will tell you when that happens.
AUDJPY-NZDJPY-CADJPY (the resource or commodity pairs),
GBPJPY-EURJPY (producing or anti-pairs to USD),
USDJPY (consumer).
CHFJPY (safe haven, both CHF and JPY are safe haven currencies, that's why the correlation of CHF to EUR is good and very stable and to USD can be high).
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