CORRELATION - PATTERN TRADE SETUP- ELLIOT WAVE (60m)
Morning!
Looking at the correlations in excel for today, EUR/USD + GBP/USD have a very positive correlation (93.9) for the hourly
This means USD is countered, i.e it becomes EUR/GBP >
also waiting on retracement from the FIB EXT level of 127.20%, this will complete D,
and will be a good time to sell if the price reverses from that area.
Elliot Wave - I have included a correction, (0ABC)
Be conservative on your trading, and look for entry points around the white line (0,72887) via a retracement of 127.20%!
All the best in your trading!
CharlieFX
Looking at the correlations in excel for today, EUR/USD + GBP/USD have a very positive correlation (93.9) for the hourly
This means USD is countered, i.e it becomes EUR/GBP >
also waiting on retracement from the FIB EXT level of 127.20%, this will complete D,
and will be a good time to sell if the price reverses from that area.
Elliot Wave - I have included a correction, (0ABC)
Be conservative on your trading, and look for entry points around the white line (0,72887) via a retracement of 127.20%!
All the best in your trading!
CharlieFX
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