Hi if the USDZAR and EURZAR atr both overbought on 15 minute time frame and I want to calculate which one is the best option or more likely to go down to place a sell order in, could i use the EURUSD to see which of the two is weaker? Eg if the EURUSD is oversold and possibly going up then that make the USD weaker meaning the USDZAR is more likely to go down to place a sell order in?
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Interesting. I don’t trade this way but I like the fact it made me think 
I think your theory is right and could very well play out as you expect. My only reservation would be just because EURUSD is oversold doesn’t necessarily mean it will head up.
As a side question - why USDZAR and EURZAR and not say USDJPY & EURJPY or another minor or major cross pair?
Keen to see what others say who may use a similar edge.
Well I use a 5ma inside my indicator window waiting for it to reach 10 or 90, but sometimes it’s on 90 but then price keeps going up and I zoom out to try see support and resistance lines to determine when it will stop. But yeah I should probably rather use the usdjpy and eurjpy for now
Not saying it won’t work with ZAR… just usually spreads are way higher on exotic currencies so you could use the same theory but with less cost.(?)
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