Salve a tutti,
first of all let me tell you that I usually don’t trade like that but I wanted to “play” a little and so I applied my “Currency Strength/Weakness/Correlations” setup on a EURUSD 1 Minute chart. As you know starting from the last summer I moved my trading to higher timeframes. Very rarely I trade on timeframes lower that the 4Hours but I decided to give it a try as everything was in the right side.
The most important thing was that the correlation between EUR and USD was well below -50 meaning that the two currencies were inversely correlated. As you may have learned from my last post, most of the times the inverse correlation can give us better entry signals as we know that the two currencies will tend to move away from each other giving us a better chance of making profits.
Here’s a screenshot showing you the 5 trades I made for a total profit of a little less than 50 pips in 3 hours trade. Not great but not even bad Considering that it was Friday and the the US Market was opened just for a few hours.
The 3 indicators I used will be available Thursday Dec 1st here on PimpMyEA.com.
They will be the first of a long series of indicators and EAs that we use everyday in our personal trading. After a long debate, we (me and Paolo) decided to disclosure them. We really hope that you’ll like them and that you’ll find them useful to find your way to profit from the Forex market.