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DaneelDouglas

Using correlation to find high probability setups

Dollar Australia / Yen Jepang (FX_IDC:AUDJPY)  
DaneelDouglas Diupdate   
FX_IDC:AUDJPY   Dollar Australia / Yen Jepang
Trend Analysis Chart Patterns Beyond Technical Analysis
4
0
trendanalysis chartpattern beyondta
Because AUDJPY and AUDNZD are both hitting this high probability zone at about the same time, we are looking to go long. I would however need to wait for aud to show some more strength compared to other currencies to confirm this area. Although the correlation rate is 15% between these pairs, having both hit such a area could lead to a mean continuation to the upside.
Trade aktif:
i like the setup and aud has shown strength.
Komentar:
going long, stop 10 pips below area.
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