Feb 24th- Market update

CHF has gained two points to 13, now equal with GBP, also on 13.  EUR on 10, NZD on 8.  The remaining currencies are weak, between 2 and 5 points.  Thus I am looking to buy GBP and CHF, and potentially EUR, neutral on NZD and selling the rest.

It’s a bit quieter on the scheduled news front this week.  Only 1 bit of GBP/9.30 news.

Currency pairs in S1 or S2 environments, for which I took a look – EURCHF, USDCHF and USDJPY.

Entered order on NZDCAD – S1B – more details to follow.

S3 on FX – Nothing going on in terms of the 7am candle.

Equities – In terms of STAM, many of the indices are switching to a bullish environment on the weekly timeframe, and as they are all trading well above their MAs on the daily and weekly timeframes all them are becoming S1B environments – I am thus looking for a retracement, followed by bullish price action, before taking long positions in the equity markets.

A slight recovery last week in terms of trading results – an end to the losing streak?  3 winners, 2 losers and 1 scratch for a net gain of 0.74R.  Still down 5R for the month of February thus far.

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