When it comes to trading in the forex market, it’s essential to understand the different strategies and techniques that can help you make profitable trades. One of these strategies is pairing a pair on top of another pair, which involves analyzing and comparing two currency pairs to determine which one is likely to perform better. In this article, we’ll explore how to lay a pair on top of a pair in MT4 forex.
What is Pairing a Pair on Top of Another Pair?
Pairing a pair on top of another pair is a trading strategy that involves comparing two currency pairs to determine which one is likely to perform better. This strategy is based on the idea that the performance of one currency pair can be used to predict the performance of another currency pair.
For example, if you’re interested in trading the EUR/USD pair, you might compare it to the AUD/USD pair to determine which one is more likely to perform better. If you believe that the AUD/USD pair is likely to perform better, you would lay the AUD/USD pair on top of the EUR/USD pair.
How to Lay a Pair on Top of Another Pair in MT4 Forex?
When it comes to laying a pair on top of another pair in MT4 forex, there are a few steps you can follow to help you make an informed decision.
Step 1: Choose the Currency Pairs You Want to Compare
The first step is to choose the currency pairs you want to compare. You can do this by selecting the “Symbols” tab in the MT4 platform and choosing the currency pairs you’re interested in.
Step 2: Analyze the Charts
Once you’ve chosen the currency pairs you want to compare, you’ll need to analyze the charts to determine which one is likely to perform better. You can do this by looking at the price movements of each currency pair and comparing them to each other.
For example, if the EUR/USD pair is showing an upward trend while the AUD/USD pair is showing a downward trend, you might conclude that the EUR/USD pair is more likely to perform better.
Step 3: Lay the Pair on Top of Another Pair
Once you’ve analyzed the charts and determined which currency pair is likely to perform better, you can lay the pair on top of another pair. To do this, you’ll need to select the “New Chart” option in the MT4 platform and choose the currency pairs you want to compare.
For example, if you believe that the AUD/USD pair is likely to perform better than the EUR/USD pair, you would lay the AUD/USD pair on top of the EUR/USD pair.
Step 4: Monitor the Charts
Once you’ve laid the pair on top of another pair, you’ll need to monitor the charts to determine if your analysis was correct. You can do this by looking at the price movements of each currency pair and comparing them to each other.
If you find that your analysis was correct and the currency pair you chose to lay on top of another pair is performing better, you can make a profitable trade.
Conclusion
Pairing a pair on top of another pair is a trading strategy that can help you make profitable trades in the forex market. By analyzing and comparing two currency pairs, you can determine which one is likely to perform better and lay one pair on top of another pair to make a profitable trade.
To lay a pair on top of another pair in MT4 forex, you’ll need to choose the currency pairs you want to compare, analyze the charts, lay the pair on top of another pair, and monitor the charts to make informed trading decisions. With practice and experience, you can become proficient in pairing pairs on top of each other and making consistent profits.
