08:00am CET (07:00 UK time)    Not sure whether I will be doing a lot of trading today as I’ve errands to run in Palma plus a long cycle ride with some neighbours. Any trades I do have will be reported here later.

We are used to the ‘bad news is good news’ scenario over here in Europe (and the U.S.) but the overnight Asian session demonstrated this well after disappointing Chinese export data came in lower than expectations, showing a 15% decline year on year.  This bad news is fuelling hopes that the Chinese government will ramp up its stimulus measures to boost manufacturing and get their normally buoyant trade surplus back to late 2014 levels – it declined to just over $3 billion last month against expectations of $45 billion, although even the $3 billion result is a number David Cameron and Angela Merkel can only dream about !

Back to last week’s markets and the main U.S. indices ended on a high again with Friday’s session being boosted by General Electric’s announcement of a large-scale share buy-back scheme and sweeping restructuring plan which boosted their share price by just over 11%. This activity brought the main Dow Jones 30 index back over the 18,000 level again and the wider S&P 500 was similarly bullish as it looks to reach the 2115 resistance area again (currently at 2100)

The Euro is suffering from the ‘Greek problem’ again as rumours are circulating around Brussels and Berlin of European policy-makers preparing for a Greek exit (Grexit) from the Euro as the finance minister Yanis Varoufakis is so far is failing to give their lenders any concrete plans for debt repayment and this stopping any further releasing of funds to help run the country. Many commentators now think this course of action is steering the country to eventual bankruptcy as it leaves the Eurozone and this will inevitably have repercussions for the rest of Europe, the Euro was 3.35% down on the week by Friday night and is slightly down again at 1.05926 against the U.S. Dollar this morning.

Market Close Friday 10th April 2015:   Dow Jones 30  +98.92 @ 18,057.65  S&P 500  +10.88 @ 2,102.06  NASDAQ  +18.07 @ 4,422.02  FTSE 100  +74.41 @ 7,089.77  UK AIM  +3.29 @ 735.65  DAX 30  +208.29 @ 12,374.73  CAC 40  +31.51 @ 5,240.46  IBEX   +14.70 @ 11,749.30   Nikkei 225 (Today)  -17.12 @ 19,890.51  Hang Seng (currently)  +260.48 @ 27,532.87

All times below are CET (UK Time +1hr)

09:55am    Sitting here doing a Skype call with a new trader with an interest in trading Gold exclusively, I noticed a trendFX position setting up on my Gold chart so I am now in a short trade with a 32 pip stop loss.

11:45am   I do need to shoot off to Palma now so I’ve closed off my Gold trade with a +43 pip profit.

14:00pm    Back home for a short while so going to have a quick look at some charts.

14:10pm    In a UTB trade from my Master-The-Reversal system manual now, I entered a few minutes ago — also on my Gold chart.  The stop loss on this particular position is 22 pips and for people who trade this pattern, it is also a ‘BURT’ pattern as well

14:35pm    The U.S. trading session is getting going now so extra care needs to be taken if you are in a trade at this time –  so far my Gold position is doing ok and volatility is still quite low.

15:05pm    Out of my trade a few seconds ago and happy with a quick profit – I have come away with +58 pips, so +101 pips for the day. Going to send out a chart screenshot to students showing the exact details of the trade.

15:10pm    Neighbours just arrived for cycle ride so going to be away for a few hours at least —  so charts off now.

21:45pm     Just got back indoors so no trading to report tonight.