Trading Diary & Market Update ~ Monday 3rd March 2014
09:10am (WET) ~ It’s my last full day out here in Gran Canaria so I’m concentrating on my new trading manual completely today, but before that I am off for a cycle ride up into the mountains on this bright, sunny morning.
As you’ve probably seen, the news is dominated by Russia’s incursion into the Crimea and their build up of troops in the area over the weekend has caused the markets to open down this morning after a broadly bearish Asian session earlier today. Both European and U.S. markets have reacted negatively and we should now see a flight to safer investments such as Gold and Silver. Slumping crude oil inventories at Cushing, Oklahoma kept the WTI prices well supported and at the same time we saw a sharp climb in euro and a rise to a record for 2014 in equities which both enticed energy investors to remain long crude. As expected, tensions in Ukraine on the brink of war with Russia already pushed the WTI almost 1% higher in overnight trading.
09:55am ~ Just had a quick look at my favourite charts as we’ve just got broadband back after a short break and there’s not much happening apart from a possible ‘long’ opportunity on my Gold chart.
10:50am ~ The Gold trade was triggered and I am in the market with a 28 pip stop-loss. It was a trendFX strategy 1 set-up.
13:45pm ~ I have just the minute come out of the Gold trade as the U.S. markets are beginning to get going and a small amount of volatility is showing itself – and as I am ahead I shall bank the profit. There is also the offer of lunch out at the marina as well ! The trade has given me +41 pips.