Sam
You see Eur/Usd at support.. ready for a move up.. Question: is it because of Eur strength? or USD weakness? Impossible to tell... So you look at Gbp/Usd.. It is also at a support level, looks like it could also be a good long trade.. now you have an idea that USD weakness is the main driver.. So what trade do you take?? My guess is that it would be wise to play the stronger currency (out of Eur and GBP) to trade agaiinst the weaker USD. The way to check that is to look at your connecting triad (in this case EUR/GBP) Does it show Eur poised for a bounce? or GBP? or is it flat? This will tell you a lot. If Eur/Gbp is at support (meaning ready for a move up) then Eur is strongest and trade would be Long Eur/Usd.
NVP
Not if you have all of the G8 on a screen …you can instantly see who is stronger/weaker compared to the whole G8……why hide important messages with just 3 currencies ?....and then it allows the opportunity to see if perhaps the aussie dollar is creaming all the 3 currencies under discussion ?...
Sam
You are not hiding anything, you are seeing everything. You can look at as many triads as you like.. I suggest starting with one until you are comfortable with it, then then it doesnty matter which triad you are looking at, they all behave similarly. As a trader gets more experience watching the markt this way, it is easy to add more triads..
So if you are using the most popular triad, Eur/Usd, Usd/Jpy, Eur/Jpy, You could add a new triad just by adding Aud/Usd, and Aud/Jpy (cuz you already have the Usd/Jpy open.. Now you have added 2 charts but a complete new triad. You can build triads a number of different ways.
NVP
But that’s about 5 charts now open isn’t it ? …..sam I don’t look at paircharts** …..so only need 1 chart on the screen to see all …………***(just to put on trade) …..