Forex correlation
Jan 15, 2023 at 06:30
Vistas 452
3 Replies
Jan 15, 2023 at 06:30
Hello guys, I am analia, I started trading in forex about a week ago n before that i was into commodities for a few years so I have experience.
I just have a doubt , if I am in trade in GBP/USD n trading a setup there , should I be worried abt the price action movement of other USD pairs? (I fear the setup might fail bcz of other USD pairs)Or i should be focused only on the pair i am trading in as every pairs price action is independent although pairs r correlated?
I am very confused . Please explain.
I just have a doubt , if I am in trade in GBP/USD n trading a setup there , should I be worried abt the price action movement of other USD pairs? (I fear the setup might fail bcz of other USD pairs)Or i should be focused only on the pair i am trading in as every pairs price action is independent although pairs r correlated?
I am very confused . Please explain.
Miembro desde Oct 09, 2022
posts 1
Jan 16, 2023 at 07:55
Focus only on the pair you're trading.. price action in correlation to other USD pair is somewhat similar but not 100% exact. You need to backtest or look at the charts live long enough to see how the pairs move.
Jan 17, 2023 at 19:54
ReapDeReaper posted:
Focus only on the pair you're trading.. price action in correlation to other USD pair is somewhat similar but not 100% exact. You need to backtest or look at the charts live long enough to see how the pairs move.
Thank you so much . Yes i am sticking to the pair i am trading in . It can get a bit uncomfortable when u look at corelated stocks but in time i think i will get used to it.
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