08:15am CET (07:15 UK)  ~ There will be more chart watching today than there was yesterday, I shall be spending most of the day here at home – apart from a cycle ride with a neighbour up towards Cap de Formentor at 9 o’clock – and I shall also be sitting down here in the study to carry on with my forthcoming ‘Trading Psychology’ book.  I will report back later regarding any trades I take.

Both the S&P 500 and Dow Jones 30 indices have formed reversal candles on their daily charts yesterday and over here in Europe the main French and German indices are also in a broadly bearish mood – which is not going to correct itself until Mario Draghi, the ECB President, finally decides how he’s going to pull the EU region out of impending recession – then announce it. The UK’s FTSE 100 index had positive day yesterday after it bounced off the solid support level around 6400 on Friday so there maybe a move upwards this week towards 6700 as long as there’s not too much bad news coming from its major trading partners in Europe similiar to yesterday’s German factory orders which disappointed the market.

The U.S. WTI Crude Oil price shrugged off a looming price war within the OPEC nations and posted a rise above the significant $90 level yesterday after rumours of increased demand in the U.S. in the coming months as the weather settles into autumn although the daily chart does show the possibility of a further move down towards the $85 support point – surely a manageable target if OPEC carry out their threat of increased production.

Technical traders will have been pleased to see Gold’s bounce off the major $1180 support on Friday and so far it has stayed in a short term bullish mood, advancing over $15 yesterday finishing just under $1207 last night, watch out for more trading opportunities after any small pullbacks today.

Market Close Monday 6th Oct. 2014:  Dow Jones 30  -17.78 @ 16,991.91  S&P 500  -3.08 @ 1,964.82  NASDAQ  -11.04 @4,016.27  FTSE 100  +35.74 @ 6,563.65  DAX 30  +13.83 @ 9,209.51  CAC 40  +4.78@ 4,286.52  IBEX +78.10 @10,645.70

10:50am  (CET)  ~  Just back from a strenuous ride up and down the mountains so time to get down to emails and a bit of chart watching.

11:15am (CET)  ~  Now in a ‘short’ position on my Gold chart with my ever-reliable UTB pattern – stop loss is 28 pips.

11:55am  ~  I am now in a ‘long’ UTB position on my German Dax 30 chart, my stop loss on this trade is 25 pips.

14:15pm  ~  Off out to lunch in a minute so I’ve close off my Gold trade as I’m happy with the small profit, I have managed +31 pips.  Just taking a look at the Dax position to make a decision before I go out.

14:20pm  ~  My Dax trade has not quite hit its 1:1 profit target so I’ve moved the stop upto to break-even and set an order to close at +30 pips in case we have some volatility while I’m out for the next few hours.

16:00pm  ~  Just got back and can see my Dax trade did ok – out at my target of +30 pips.  The market has been quite volatile since I have been out.

18:10pm  ~  Been outside for the last few hours but indoors now and going to watch my S&P 500 chart for any “Trade With A Day Job” opportunities.

18:35pm  ~  Nothing happening with the TWADJ strategy but I am now in a ‘short’ on the S&P with a trendFX set-up. My stop loss is 31 pips.

19:10pm  (CET) ~  Nice quick trade – out a few minutes ago with +40 pips.

20:05pm (CET)  ~  I have kept my S&P chart on while I’m cooking supper for friends and I’m now in a ‘short’ position with one of the “Trade With A Day Job” Set-ups. Stop loss 22 pips.

21:10pm  ~  The S&P has come down nicely so I am now out of my position with a +90 pip profit.

Daily Target  +20 pips

Pips Achieved  +191 pips