07:20am   Just finished and sent off my daily ‘Trading-Guidance’ email to subscribers and I’m now going to spend the rest of the morning catching up on emails and some chart watching here in the study – plus 3 Skype calls as well with people wanting to start trading.

Market Update:

Overnight Chinese HSBC Manufacturing PMI came in lower than expected which is confirming a general slowdown in their economy is going to put a dampener on the start of today’s European session that’s going to start soon. The U.S. FOMC meeting minutes that were released yesterday also failed to move the markets that much with no real concrete guidance on the next rate rise by the Fed although it does seem as though a June rise is definitely off the cards and according to London-based traders I’ve talked to this week, the timing is now odds-on for September/October.  This sentiment boosted the Gold price yesterday as investors need more return for their money and this resulted in the yellow metal rose nearly $2 on the day to $1210.10.

According to yesterday’s Crude Oil Inventories there was an unexpected draw on Crude Oil stocks at Cushing, Wyoming which mainly down to increased refinery production in the U.S. as a whole and this news sent WTI Crude up nearly 50 cents to $58:78 per barrel and on the back of this, UK Brent Crude rose 33 cents as well, ending the day at $64:78 and so far this morning the bullish mood is still present, currently sitting at $65:29.

Trading Diary:

09:45am   Nothing much to see on my favourite charts, so I’m off for a cycle ride along the coast path.

13:40pm   Back from lunch a short while ago and I’m just watching my WTI Crude chart to see if the price rises to form a reversal candle in 5 minutes which may trigger a ‘long’ trendFX trade.

14:00pm   The price did rise sufficiently to trigger a trade so I’m now in a ‘long’ position with a 43 pip stop loss.

16:05pm   Some friends have just arrived for a barbeque so I’ve closed off my WTI position to go outside now – it managed +86 pips.