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Never mind the previous positions and slopes: in terms of absolute values – @18:00 does the CAD the Strongest and the GBP is the weakest of all 8 currencies? If YES – everything is Ok. If NOT, the indicator is misleading (in my point of view, at least).
Relative to the cumulated move starting at London Open: yes (represented best by that session reset view).
Relative to some rolling time window: not necessarily (represented by ASS_Correlator_v2 in the last pic).
Let’s look at a new pic to find a final answer: at 18:00 CAD takes the strongest position out of 8 currencies, GBP the weakest. So the answer at 18:00 would be a clear YES. Yet this is the end of the swing, so a short entry would lead to nothing or a small loss, depends on when the trade is closed.
BAck around 16:30 it would have been more probable to go CAD long against EUR or JPY short (blue vertical line in 2nd pic).
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A good trader is a realist who wants to grab a chunk from the body of a trend, leaving top- and bottom-fishing to people on an ego trip. (Dr. Alexander Elder)