Smart Execution

Here is a very good example. Have you ever seen a pattern of questionable quality? So, checking other pairs is a great chance to confirm the quality of the pattern you’ve identified; if the pattern is not reliable on all currency charts, it’s best not to trade it.

In this case, any market pattern serves as a source of signal.

When you analyze the pair that you typically trade, you’ll not always be able to determine some level, but you might find something more interesting after analyzing other correlating financial instruments.

Currency pairs are correlated with: Each other due to a common currency that makes them up. Correlation of currencies and indexes, for example, the Dollar Index or the S&P 500 Index. Commodity assets. Correlation of the Canadian dollar with oil and the Australian dollar with gold is widely known. Logically arguing, this correlation does nothing but make trades worse since it severely limits the number of financial instruments used for trading. For example, you wouldn’t sell EUR/USD and buy GBP/USD at the same time.

There is an inverse correlation where pairs move in unison but in the opposite directions, for example, EUR/USD and USD/CHF. Forex correlation occurs due to a small number of currencies that can make up a currency pair. Taking EUR/JPY and AUD/JPY as an example, we can see the Japanese yen included in both pairs and being the source of correlation. Therefore, if yen begins to strengthen, these two pairs will move in the same direction. However, US dollar itself is even a greater source of correlation. Almost all pairs are dependent on it; if it starts to gain, other pairs (even those not including USD) will be directly or inversely correlated with it.

Understanding Currency Pairs Correlation We’ll not go into the details of correlation calculation theory – you can find the information online if you wish. Simply put, correlation in the Forex market is the measure of how synchronously currency pairs move. At that, the higher is the value of correlation, the longer the pairs move in unison

GBPUSD GBPJPY EURGBP

Looking forward to a movement on GBP pairs

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What are peaks? A peak formation High/Low is the point at which the market maker trend is ending or technically a reversal point of the market make trend. Take it from me not all the highest or the lowest price meets all the criteria’s of a peak formation. There are more indication that gives one an assurance to reversal point, What type of a peak formation presented, what are the basic criteria’s, the Confluence of events and the areas of interest? The types of peak formations to be interested with are M/W formations, and the head and shoulders. These peaks formations cometh as the result of 2-3/5 days of rise or drop divergences, aggressive behaviors( wide range swing, 3 vectors , wedge / flag as a trapping volume), TDI extreme overbought or oversold and multi day/ session formations. In furtherance, trap volumes as the first leg, the first shoulder and the first AFP /safety trade zone of the previous peak. (quoter points- prices above or below the points for 50 pips) the market baseline, the fixed 50, extremes, Harmonics, 200 and 800 EMA, psychological levels and the blue traces.

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