Mar6 – Market Update – ECB/BOE day

No open positions as of this morning.  Both NZDCAD and ESP35 were closed in profit.  See other blog posts for more details on those trades.

No changes in the STAM matrix rankings (weekly and daily timeframes).  On the ‘All Timeframes dashboard’, which encompasses the timeframes from 15M to 4H, AUD,NZD and CAD have high ratings with EUR, CHF and JPY showing weak ratings.

There are several big announcements today – with BOE and ECB meetings as well as some US data.  Tomorrow is NFP.  Australia had two pieces of positive news released during the Asian session.

No S3 or STAM setups on the FX market as at 7am.

Equities: Tight day for the US markets.  Italy and Spain had strong sessions.  The remaining European markets had a muted sessions – FTSE fell because many of the stocks went ex-dividend.  Nikkei was strong overnight.  No STAM setups.

Commodities: Gold is starting to consolidate. Oil has been pulling back strongly for the past two days – presumably as Ukraine is becoming more stable.  Oil is currently in S1B environment, so this could set up for a long trade following this pullback, though I would need to wait for NFP to pass before going long.

And as an additional note on an event in my trading journey, that’s worth mentioning:  I saw a mediocre S3S setup  on NZDJPY last night.  I was sitting in front of my laptop around 10pm at home, and thought of longing it.  But then I considered that I was planning to trade off the FXCM charts (when normally I use the AT charts), that I was planning to enter on a 10pm candle (which I never did during the testing), that AUD data was to be released at 0.30am [which could impact on the trade], and that the trigger-candle’s formation was sub-optimal.  Thus I decided to pass.  The trade would ahve been a losing one, but regardless of the result, it’s good that I passed on this setup. I should ideally always be at my workstation, at the office, with a full concentration level, rather than trading on a whim just before going to bed!

 

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2 Responses to Mar6 – Market Update – ECB/BOE day

  1. 11am update: S3 setup on CADCHF but it can’t be taken because of CAD news at 1.30pm (two hours away). There are potential STAM setups for shorting USDJPY and for shorting CADCHF, however neither can be taken because of the USD and CAD news to be released in the next 2-3 hours.

    There’s also nothing on equities or commodities.

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  2. 3pm Update: S3 setup on AUDCHF (see blog post above). Also checked S3S on NZDUSD and AUDCAD – neither of which crystallised. Monitoring oil for a long STAM setup – however, realistically, it is now getting too close to NFP for entering a STAM setup. No STAM setups on equities, commodities or equities.

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