Using correlation to find high probability setups

Because AUDJPY and AUDNZD are both hitting this high probability zone at about the same time, we are looking to go long. I would however need to wait for aud to show some more strength compared to other currencies to confirm this area. Although the correlation rate is 15% between these pairs, having both hit such a area could lead to a mean continuation to the upside.

İşlem aktif:

i like the setup and aud has shown strength.

Yorum:

going long, stop 10 pips below area.