Cross currency analysis - useful or no?

Let’s say I’m focusing on GBP/USD and am working on my TA. Would you say it’s worth it to look at EUR/USD, USD/JPY while trying to predict price movements in GBP/USD?

So what I’d be doing is looking for TA signals on the latter two charts (while movement in GBP/USD is stale) to try and predict what would be “unexplained” movements than had I looked at just the one chart. Is this worthwhile?

100% yes.
Go even further and look @

Equities
Debt instruments
Indices
Volatility

Wow, that’s a lot of windows open at once. Might need an extra monitor or two!

Would looking at equities + debt instruments + indices be worth at 15 minute time frames? That’s a lot of windows open - are enough traders really looking at all of these for one to have an effect on the other?

Also, by volatility, you’re just referring to the SD in prices in the relevant traded currencies right?

Don’t necessarily need charts open - just a watchlist and a good memory as to where your key levels are in different markets.

100% yes, if your strategy calls for you to be monitoring price action on that timeframe. Most professionals I’ve seen trade care less about timeframe, and more about what the market is doing. Order flow traders don’t even use charts.

100% yes.

No - real volatility. So, if you’re watching the S&P 500, you’re also watching the VIX. If you’re watching WTI, you’re also watching the OVX.

The key is to find an edge, exploit it until everyone catches on, then get out before it’s too late.
Go on youtube and watch a documentary called “Floored - into the pits”. It’s about an hour and 20 min - and will give you some unique perspective on how the big fish used to trade.

Good stuff ForexUnlimited, great 2 posts.

My idiot/scammer Forex mentor/guru/teacher got me to look into COT reports and commodities, but its wayyy tooo much for me right now. I really dont even need them, but I guess just for craps and laughs there may something of value there. Its just confusing for me.

As for the thread, I actually use cross pairs. I mostly trade EURGBP, but use GBPUSD and USDX as a cross. They usually work perfectly, unless news is there, then it really doesnt matter most times, but for most of the time, it works absolutly wonderfully, and does keep you on the right side of the track. Here is a pic and set-up that I check before I make assumptions and put money on the table.

this one is EURGBP/GBPUSD



This one is ERUGBP/GBPUSD/EURX/USDX

The indicator is called " Overlaychart"

I am assuming this is a custom indicator?

Yes,

Overlay Chart Indicator - MT4 Indicators (MQ4 & EX4) - Best-MetaTrader-Indicators.com

You can’t rely on only currency correlation! But you may apply this knowledge for filtering your trading entry point! In addition, I use specific trading strategy in a particular trading pair! That’s way, I don’t count others pairs status here! Besides, in my live trading chart I use different type or trading pairs from Forex to CFDs and Commodities, so no issue with currency correlation!