Today I have told you to close the position of NZD/USD in profit before it went up.
Why did I do this? Because I`m checking correlations.
Whenever you trade a MAJOR-PAIR with USD/XXX or XXX/USD do make sure to use the US-DOLLAR-INDEX (DXY) to check it for valid inter-market-correlations for your asset.
Whether it`s a positive or negative correlation - you can always take advantage of the correlation if there is one.
In this case, the negative correlation was more than obvious.
Try it yourself.
Fun fact:
The weighting of EURO is currently at 56,7%.
The US-DOLLAR-INDEX is actuall USD/EUR.
You don`t believe? Check it!
LEAVE A LIKE AND A COMMENT - I appreciate every support! =)
Peace and good trades
Irasor
Wanna see more? Don`t forget to follow me.
Any questions? PM me. :-)
Why did I do this? Because I`m checking correlations.
Whenever you trade a MAJOR-PAIR with USD/XXX or XXX/USD do make sure to use the US-DOLLAR-INDEX (DXY) to check it for valid inter-market-correlations for your asset.
Whether it`s a positive or negative correlation - you can always take advantage of the correlation if there is one.
In this case, the negative correlation was more than obvious.
Try it yourself.
Fun fact:
The weighting of EURO is currently at 56,7%.
The US-DOLLAR-INDEX is actuall USD/EUR.
You don`t believe? Check it!
LEAVE A LIKE AND A COMMENT - I appreciate every support! =)
Peace and good trades
Irasor
Wanna see more? Don`t forget to follow me.
Any questions? PM me. :-)
Anmerkung
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.