Forex correlation | Diễn đàn Forex của Myfxbook

Tham gia từ Jan 15, 2023 3bài viết

Jan 15, 2023 at 06:30

Tham gia từ Jan 15, 2023 3bài viết

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.

tostyleun

Tham gia từ Jan 15, 2023 3bài viết

Jan 15, 2023 at 12:28

Tham gia từ Jan 15, 2023 3bài viết

Somebody plz get to this.

ReapDeReaper

Tham gia từ Oct 09, 2022 1bài viết

Jan 16, 2023 at 07:55

Tham gia từ Oct 09, 2022 1bài viết

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.

tostyleun

Tham gia từ Jan 15, 2023 3bài viết

Jan 17, 2023 at 19:54

Tham gia từ Jan 15, 2023 3bài viết

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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EURUSD	1.07599	GBPUSD	1.25452	AUDUSD	0.66091
USDJPY	153.053	USDCAD	1.3685	USDCHF	0.90475