FullTimeTrader
Short

EURNZD-simple trade based only on correlation

FX:EURNZD   Euro Fx/New Zealand Dollar
386 2 11
A few years ago when this pairs were very good correlated i found very good setups using only correlation information.
The best indicator is the price. According to this chart this pairs a well correlated again.

The EURNZD             is very confusing now, so we must look for information on the correlated pair NZDCHF             .

I have already my job done for this the NZDCHF             (see details below), a cup and handle pattern that is working fine so far:
NZDCHF-a textbook cup and hadle pattern forming


So if we want to trade the EURNZD             the same setup is valid and the R/R ratio is better now.

Best regards.
moneymaking
2 years ago
Both the pairs seem to be mirroring inverse to one another.
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FullTimeTrader moneymaking
2 years ago
Yes! its happens often with some correlated pairs. You can anticipate a move on one pair looking at the another one. Off course it works together with other research.
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