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Forex on Five Hours a Week: How to Make Money Trading on Your Own Time by Jeffrey Alan Brandzel, Raghee Horner

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Chapter 8. Market Pulse

Always respect the market, but don't fear it!: 2006 "Fxstreet.com. The Forex Market." All Rights Reserved.

Figure 8.19. Always respect the market, but don't fear it!: 2006 "Fxstreet.com. The Forex Market." All Rights Reserved.

The forex market pulse is something that came from my background as a long-time futures trader. Long before trading pairs, I was trading currencies in the futures market. I was also trading other pairs like the Dow minis, gold, crude oil, and the U.S. Dollar Index among many others. I was already familiar with their trading behavior, so it didn't take long to discover that there were correlations that affected the forex pairs. I already knew that markets like gold and crude had an effect on the dollar, and since the dollar was half of each of the major pairs and commodity currencies, I felt that by bringing over my existing futures knowledge I had an edge. That's what I will share with you now.

I want to caution you that if you do want to use these charts you will need a futures feed. I will offer some alternatives to real-time feeds that can be costly. My favorite is www.quote.com mainly because the same symbols you see me use on the charts in this section can be typed in letter-for-letter in Quote.com, and you can get produce overlays there too. I also want to remind you that these are secondary correlation charts. What I mean by that is that the primary chart should always be a chart of the market you are actually setting-up to trade, which ...

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