TA 3
Busy alpha traders continually peruse their screens in search of the next big signal, but they only sporadically experiment with methods other than basic Fibonacci retracement levels, moving averages and trend lines.
I would like to walk you through a trade that was placed using a technique that might seem a little unusual – using intermarket relationships and correlations to create trading opportunities in the Forex market.
What you are actually trading in the Forex market is a contract that requires one currency to be exchanged for another and delivered in two business days.
Everyone knows about the importance of trading in the direction of the trend – “The trend is your friend, until it ends” is one of the main sayings you hear when looking for trade recommendations.
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