Today I'd like to talk about a correlation that is absolutely essential when it comes to trading Forex successfully. Let's start with a trade example we've spotted this morning on AUDCAD As you can see it's been the perfect setup...
Pivot (invalidation): 14.2100 Our preference Short positions below 14.2100 with targets at 13.9100 & 13.7900 in extension. Alternative scenario...
Pivot (invalidation): 20.60 Our preference Long positions above 20.60 with targets at 22.60 & 23.40 in extension. Alternative scenario...
Pivot (invalidation): 1627.00 Our preference Short positions below 1627.00 with targets at 1609.00 & 1594.00 in extension. Alternative scenario...
Pivot (invalidation): 2520.00 Our preference Long positions above 2520.00 with targets at 2710.00 & 2800.00 in extension. Alternative scenario...
Pivot (invalidation): 9453.00 Our preference Long positions above 9453.00 with targets at 10117.00 & 10440.00 in extension. Alternative scenario...
Pivot (invalidation): 6.5450 Our preference Long positions above 6.5450 with targets at 6.5900 & 6.6200 in extension. Alternative scenario...
Pivot (invalidation): 0.6140 Our preference Long positions above 0.6140 with targets at 0.6200 & 0.6235 in extension. Alternative scenario...
Pivot (invalidation): 1.4130 Our preference Long positions above 1.4130 with targets at 1.4225 & 1.4275 in extension. Alternative scenario...
Pivot (invalidation): 0.9570 Our preference Long positions above 0.9570 with targets at 0.9625 & 0.9655 in extension. Alternative scenario...
Pivot (invalidation): 107.65 Our preference Long positions above 107.65 with targets at 109.05 & 109.60 in extension. Alternative scenario...
Pivot (invalidation): 1.2420 Our preference Short positions below 1.2420 with targets at 1.2275 & 1.2200 in extension. Alternative scenario...
Pivot (invalidation): 1.1060 Our preference Short positions below 1.1060 with targets at 1.0980 & 1.0950 in extension. Alternative scenario...
Pivot (invalidation): 21.20 Our preference Short positions below 21.20 with targets at 19.40 & 18.70 in extension. Alternative scenario...
Pivot (invalidation): 14.2800 Our preference Short positions below 14.2800 with targets at 13.6100 & 13.4000 in extension. Alternative scenario...
Pivot (invalidation): 1629.00 Our preference Short positions below 1629.00 with targets at 1606.00 & 1594.00 in extension. Alternative scenario...
Pivot (invalidation): 2638.00 Our preference Short positions below 2638.00 with targets at 2450.00 & 2350.00 in extension. Alternative scenario...
Pivot (invalidation): 9870.00 Our preference Short positions below 9870.00 with targets at 9461.00 & 9080.00 in extension. Alternative scenario...
Pivot (invalidation): 6.4450 Our preference Long positions above 6.4450 with targets at 6.4840 & 6.5040 in extension. Alternative scenario...