Mumbai, India
Experience: Intermediate
Platform: MT4, NT8,TradingView
Broker: AMP
Trading: Index,currencies
Posts: 116 since Jul 2010
Thanks Given: 325
Thanks Received: 160
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TF correlates well with S&P midcap index (99% correlation over last 5 years), Russell 1000 index(98%), ES(97%), NQ(96%). (Ref: csidata)
Other instruments are Soybean, corn, ASX index, NZD dollar with around 88-92%correlation.
But if you are looking for a cue for direction from another correlated instrument, then SP midcap could be the one. But one should take the cue from thinner instrument and trade the thicker or more liquid instrument.
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