08:55am CET (07:55 UK time)  ~  It’s bright sunshine outside this morning, so I am off for a cycle ride in a few minutes down to Sa Pobla and then it’s back here to get going with renovations with some British builders that have come over here with me.  I shall also be watching some charts during the day and getting on with emails as well.

Markets will be busier today after traders in the UK get back to their desks after the bank holiday yesterday.  Over in America, the S&P500 is still up around record levels but daily trading ranges recently have been very limited and this usually points towards a big move soon. This time last year this index and the Dow Jones 30 were on their way down after a fairly good bullish run, so will we see that old adage ‘ Sell In May And Go Away’ come true once again ?  The French CAC40 and Germany’s Dax30 are also at record levels after yesterday’s sessions so keep a keen eye out for any new support levels that establish themselves over the next few weeks or maybe traders will see that these levels are just unsustainable without any prolonged good economic news, so markets will emulate last year’s May fall.

Expected profit-taking in the U.S. Crude Oil markets due to elevated levels has not occurred over the last few sessions, but the price is still staying stubbornly below the resistance at $105, yesterday’s trading resulted in a small 15 cent drop to $104.19.  Gold is now having problems getting above the psychologically important $1300 level, with the 20 period moving average giving the price a useful resistance line on the daily chart – more moves down today ?

10:40am (CET)  ~  I am back and doing some email and chart watching but nothing much happening on the markets at the moment.

11:50am  ~  Looks like a possible ‘short’ opportunity on my Gold chart, the price has been in a narrow band and getting ready for a potential breakout.

12:15pm  ~  I am in a Gold trade using a trendFX set-up, my stop loss is just 14 pips.

14:25pm  ~  Still in the trade and as we have the U.S. trading session start soon I have set-up a stop at +30 pips to protect some of my profits.

15:45pm  ~  The Gold price is still falling and I’m still in the market after the U.S. open volatility, so I’ll wait and see how far it will continue to slide.

16:40pm  ~  I have just come out of my Gold position as I need to help the guys outside for a few hours.  The price has dropped quite dramatically in the past few hours so I’m happy with the score, I have managed +166 pips.  Just taken a screenshot of my chart so I can email students details of the trade (set-up/entry/exit etc.)

23:05pm  ~  I got back inside just after 7pm and did have a quick evening trade with my “Trade With A Day Job” strategy.  I managed +23pips when I came out of the market at 21:20pm