In this video I show my theory on what's probably happening with BTCUSD. It appears that Bitcoin is being used to hedge against the US Dollar crashing. $22,000 is certain in sight and who knows it could get to $30,000 sooner than anyone might imagine. I still think that BTC is too volatile for my liking and therefore I've stayed out. I've been happy to avoid...
Market correlation is key to finding the best Forex pairs to trade. You don't need to take every single trade out there. If you understand that markets work in herd mentality, and analyze the market to find the ideal pairs to trade, you are doing yourself a big favor. Trade only the pairs that show the best correlations.
**PLEASE FAST FORWARD TO .35sec MARK!** I wanted to give a quick lesson on correlation. Telegram: @RichDadBre
I'm throwing this up for discussion. The three key areas of the chart seem to show that a fall in the DXY is followed by sound recoveries in the S&P500. Be careful though, because I'm NOT saying that the weak DXY causes the S&P to rise like a phoenix. It's a community so I welcome different perspectives on this.
The reasoning behind this very important set of correlations!