There were no STAM or S3 setups yesterday or morning. I didn’t trade during the afternoon.
Today there’s USD news at 1.30. And Carney is speaking at 2.15pm. So careful with USD and GBP pairs ahead of those announcements – note though that we might get some good moves following those announcements.
No major changes with the STAM points this morning. GBP continues to be strongest pair (back on max 14 points). Followed by EUR, NZD and CHF. USD sitting in the middle, and CAD/JPY/AUD continue to be the weakest.
There are no valid STAM setups following the close of the 7am candle.
In the shorter term – AUD and JPY are very weak. GBP is strong – has made up nearly all of its losses across the board from Monday. AUD has given back most (and sometimes more) of the gains it made on Monday.
NZD has been tapering off a bit during the last 12-24 hours. NZDUSD is in S1B, has retraced (bounced off the supply zone) – now waiting for bullish price action.
CAD – against the Yen it lost all of last week, and never recovered the losses thus far.
S3 Analysis – no setups thus far.
STAM Equities – all the European indices are near their historical highs and have been consolidating – it seems as if they are going for a breakout to the upside – the Turtle strategy would catch a 20day high-breakout here.
JBT Trading room – I am still monitoring the room but I am not really taking trades in the room – to me it seems as if the room is still making losses – I cannot quite see how they could be in profit. The likelihood that I am going to carry on with it is certainly reducing.
Action to take
- Check STAM and S3 again on the close of the 11am candle.
- Continue looking for setups in regard to Supply and demand