It’s taking me too much time to look at the equities and it is quite distracting so I am going to leave those for now.
There hasn’t been a lot in the way of STAM this week – spending most of my time on supply&demand and S3.
NZD Pairs – Several of the NZD pairs are in S1 or S2 environments. However the short-term momentum is against the NZD in each case – thus NZD is showing some weakness. Now waiting for NZD-favoured price action before I could take NZD against say CAD. That said, the other setups are with the other medium and/or strong currencies, EUR, GBP, CHF so they are not setups I would be overly willing to take.
CHF Pairs – Several of this are also in setup – CHF has been slipping down in the STAM rankings and is now being triggered into ‘sell-CHF’ setups. USDCHF, GBPCHF and EURCHF. And also NZDCHF. Interestingly CHF had a day of strength yesterday, so it effectively put in a good retracement. Thus if there’s now bullish price action on these pairs, then we have valid setups that we could enter into.
Action to complete
- Consider CHF STAM setups on close of 11am candles.