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Which trade to enter when there's more than one opportunity at the same time?
Dec 14, 2017 at 13:49
Membro Desde Jun 14, 2013
130 posts
I always find it useful to do a Currency Strength Analysis before I look for trade setups. Basically you compare a base currency, i.e. AUD, against the other currencies and then open the charts where the base currency is strongest, and look for trade setups in favor of the base currency. For example right now the AUD is very strong against the NZD and GBP.
Here's a link that will help you quickly find String vs Weak currency pairs:
https://www.oanda.com/forex-trading/analysis/currency-heatmap
Good luck!
Here's a link that will help you quickly find String vs Weak currency pairs:
https://www.oanda.com/forex-trading/analysis/currency-heatmap
Good luck!
Keep it simple, be disciplined, get rich slowly and above all protect your equity!
Membro Desde Mar 17, 2021
536 posts
Sep 04, 2021 at 08:19
Membro Desde Mar 17, 2021
536 posts
JacoAF posted:Thank you for sharing.
I always find it useful to do a Currency Strength Analysis before I look for trade setups. Basically you compare a base currency, i.e. AUD, against the other currencies and then open the charts where the base currency is strongest, and look for trade setups in favor of the base currency. For example right now the AUD is very strong against the NZD and GBP.
Here's a link that will help you quickly find String vs Weak currency pairs:
https://www.oanda.com/forex-trading/analysis/currency-heatmap
Good luck!
Sep 06, 2021 at 19:54
Membro Desde Sep 22, 2018
70 posts
mcsuperb posted:
Hi Trader,
Just wondering how you decide which trade to enter when there are several opportunities?
Do you check the correlation and pick the one with the strongest trend?
Do you use correlation at all to make sure not to trade two highly correlated pairs at the same time?[/quote
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Membro Desde Jul 23, 2020
759 posts
Membro Desde Jul 23, 2020
869 posts
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