Identify The Best Trading Opportunities with Correlation (under 4 minutes)
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- Опубликовано: 15 сен 2023
- Many super-successful traders use correlation as their primary trading tool. Navin Prithyani shares how you can also use correlation in your daily trading.
Navin's Favourite Correlation Apps:
- Market Beats:
www.urbanforex.com/market-bea...
- FX Meter:
www.urbanforex.com/fx-meter
Useful Links 🔗
➡️ Learn how to look at the market, join the Mastering Price Action 2.0 Program:
www.urbanforex.com/mpa-2-0-le...
⭐️ Receive a Powerful Free Foundational Course and webinar notifications:
www.urbanforex.com/free-course
💻 Urban Forex Website: www.urbanforex.com
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www.urbanforex.com/app-store
📈 Navin is using the software TradingView to look at his charts, get your access to the same charts here: www.tradingview.com/?aff_id=1...
#forex #trading #trader #traderlifestyle
//DISCLAIMER
This video expresses our personal opinions only. Trading financial markets involves risk, and is not suitable for all investors. We are not responsible for any losses incurred due to your trading or anything else. We do not recommend any specific trade or action, and any trades you decide to take are your own. 
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Market correlation is something special and most traders miss it. Thank you Sir
You're right. Very crucial for trading! 😉
Powerful reminder on pair selection. Thanks Navin and your team
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Indeed it's a powerful tool!!! 💪🏼
Powerful, Navin hits it hard! Money spot right there.
Spot on! 💪🏼
I love this new format urban forex is using...its so power full thank you
That's great!!! Best luck on your trading career! 🤩
Thanks Navin, this is very powerful ❤
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Thank you sir, this is golden!
You are golden!
Oooh yes atomic bomb fire fire 💥💥💥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥 THX FOR TIP! You ar the best forex techer i ever see! I bought your 2.0 cours im in a second week and a watch every day one of your youtube videos and im blowin away every time from the information what you put in the video's! Thx Navin one mor time
Yeees!!! 🔥🔥🔥 Welcome to Urban Forex! So nice to see enthusiastic students like you!!! Keep going and we're here whenever you need!!
great work ever my mentor thanks navin
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🔥🔥🔥 as usual
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Thank you, Brown Master and the Lady asking questions. May that lady ask the Master 100 QUESTIONS!
Hahahaha! Message sent and received! "I'll do my best!" 🤩
beautiful lecture
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This is golden🙌
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Please post most of these videos. I love it.
We will do it. Glad you're enjoying them 🥰
@@urbanforex At least this way I can enhance my knowledge further with what I learned from UF courses. It's okay if it's not fully revealed because I can figure it out since I'm one of the students. 💪🔥
That's awesome! 😎😎😎
basically the whole thing is we need a
Strong + weak pair or
Strong + neutral pair
and it better if the GWS we caan say of the previous party is taken out with speed or we can say panic, or as navin says choose that pair which is more angled to one side... like overextendness, out of control, dash of evil or panic,
Spot on! Just don't forget the pullback phase, that's very important as well 😉
As a new trader, this is helpful. Thank you
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Woow fantastic
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Hi, Navin ! I get your point on correlation, but what about flipping it the other side? I mean Can we choose a currency people are buying, and try to pair it with a neutral or a weak one ? Regards.
Sure! That should work as well 😉
That's the greatest explanation of correlation in trading! But we also know that the best opportunities come from ranges when they're dissolved. Doesn't it mean we should focus on AUD/JPY in that case? 🥺
That could also be a good approach 😉
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Good morning Navin. What if the general overview is contrary to what the news is saying cumulatively? For example, I have been keen on fundamentals everyday and updating my currencies accordingly based on either bad or good news. However, the next morning, the general outlook in correlation says its a sell across a certain currency group but my fundamentals track tells me that particular currency fundamentals is on a good trajectory. Does it mean that's a currency not to interact with for that particular day?
Correlation gives us the immediate intentions of the Big players. Then it's up to us to determine whether we want to risk our capital and participate in that movement, based on our Fundamentals or other factors
the explanation is amazing but can we use this for smaller time frames?
Yes, all the knowledge can be applied to every timeframe 😉
Is there a part 2 to this video? I mean in that example AUD was weak & CAD/CHF appeared strong. Do we also need to check CAD & CHF pairs to see which one is stronger against different pairs to double confirm strength of CAD/CHF?
There is no part 2 to this video.
Yes, you need to check both groups of currency pairs. We dive deeper into pair strength and selection in The Mastering Price Action 2.0.
For more information here is the link: www.urbanforex.com/mpa-2-0-learn-more
For currecny correlation i am using madash indicator which show all currency strengh and weakness in numbers
That's great to hear you found something that works for you 👍
Is it on Trading view? cause I can't find it ... Will be great help if you explain a further how to find it
Good for u dollar pair traders ...gotta see what the dxy is doing everyday to truly gauge your pair ..istress this to my peers daily.
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Whats the best timeframe to use under market correlation
There's no best, it can be used on any timeframe. But we like to know the flow from the Daily and use that in making our trading decisions on the lower time frames.
Hi Navin Sir ,
Just a quick question , how far back do we need to look for the price action, sometimes i get confused that market has been sideways but last 3-4 days are very trendy , so should i consider them strong or weak price action.
You don't have to look too far back, just make sure you're in a clear trend on whatever time frame you're looking at. If its not immediately obvious to you and you have to spent time trying to convince yourself its good - then there's probably something wrong with it.
Thanks a lot ..
I have been profitable from past year now but my profit are very small , like only 20% yearly on my personal account and 5 % on firms account hopefully correlation is another piece of puzzle ..
1 more question Sir, i only trade D1 do you think i should also be keeping an eye on news because i do not .
and please give New Zealand a Visit as well , Thanks
@@urbanforex
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I use the indexes to check the correlation (DXY, JXY, etc)
Wonderful! How useful do you find it?
@@urbanforex im finding very useful! If DXY is in a possible top and EXY is in a possible bottom, I look to long the EURUSD. Works pretty well
Nicely done 🔥
How can I subscribe for coronation on the website that gives daily results of coronation
I'm not sure what you mean, but you can check the FX Meter App for daily and 4hours currency strengths 😉
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Can this apply on the higher time frames like 4hr ?
Yes, this can be applied to any timeframe 😉
Thank you Sir for your response it means a lot 🙏
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Do you know ai introduce your channel as a best forex channel in youtube ?its how i find you ...and it's right💃
That's awesome!!! 😎😎😎 Thanks for letting us know!
The bullet
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Surly the COT data will tell you all this information too ,
We appreciate your feedback. 😊
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