Hi Traders,
Its Quite a while since I have updated the blog after the Aud/jpy which was faded away by several attempts.
I have spotted the activity in Euro and Swiss Franc which are strongly correlated and it can be seen in charts of both the pairs.
Eur/usd chart Strong Breaks with Strong Engulfing pattern
Its quite visible that both of charts are quite similar and the activity in the both charts means that strong money is buying and selling them in the opposite directions and we need to find out area which can give us maximal reward after strong sideways movement .
I would recommend to take one entry and not use both because this will double your loss but if you still can manage both with the tight stop then strong movement can be spotted in both of them as origin is still quite far away from current levels.
Its Quite a while since I have updated the blog after the Aud/jpy which was faded away by several attempts.
I have spotted the activity in Euro and Swiss Franc which are strongly correlated and it can be seen in charts of both the pairs.
Eur/usd chart Strong Breaks with Strong Engulfing pattern
Its quite visible that both of charts are quite similar and the activity in the both charts means that strong money is buying and selling them in the opposite directions and we need to find out area which can give us maximal reward after strong sideways movement .
I would recommend to take one entry and not use both because this will double your loss but if you still can manage both with the tight stop then strong movement can be spotted in both of them as origin is still quite far away from current levels.
