Using Correlation to determine entry

Eur and Aud are both strong currencies but because they are both strong we are looking for a huge move to separate them. Currencies do not like to share the same level of strength, one must be the strongest. This is a powerful trade because it takes into account correlation, strenght divergance, and support and resistance. Although i am entering for a 1:2 R:R because this is a trend following setup we can set it to be a R:R of 1:5 .

Komentarz:

Because this area is so small, we do not need to wait for a price action confirmation to enter the trade.

Transakcja zakończona: osiągnięto poziom stop

Komentarz:

Looks like a baxkside trade is being set up. trend has changed to long.