Power of Correlation
Good day friends... From my last post I shared how I have a bullish bias on XJPY pairs. And here sits beautiful EURJPY giving us a bearish setup 🤣... Am I looking to go short ? Answer is no... Why ?... In simple and plain terms ... Audjpy, EURJPY, CHFJPY, NZDJPY, GBPJPY are all positively correlated so if 4 out of the 5 have ruptured bearish order flow it's only a matter of time before EURJPY follows suite.. so probability is not on my side here. Isn't that what trading is all about? Putting probability on your side?... There you have it, the reason why I'd be sitting this beautiful setup out. Have u been making use of Correlation?
Remember this isn't financial advice.
Remember this isn't financial advice.
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