07:30am   Been up and hour already doing my daily ‘Trading-Guidance’ email and as it’s a sunny day here in Suffolk I am off sailing with friends later but first a few hours of emails, Skype calls in some chart watching.

Market Update:

European markets are still being influenced by the Greek debt repayment situation and there’s not many traders that believe that the new Syriza anti-austerity government are going to enable the country to stay in the EU and repay all their loans on time. There has been much in the news over the last few days about how they are struggling to find funds to make their latest repayment and their German paymasters seem to be running out of patience and now the IMF has entered the fray with a statement to say they will not involve themselves with any type of rescue for the beleagured country. This sentiment has spilled over into the Bond markets in Italy, Spain and Germany all falling dramatically yesterday as jitters spread across trading floors in Europe.

There is a hope that the rally in Crude Oil markets will continue as rumours of lower stocks in the U.S. emerge and later today we will see actual numbers. A small drop in production in the States should prop up prices and WTI Crude looks to heading towards its $62.50 resistance level again. The Gold chart is still looking for some sort of direction although a possible fall in equity markets here in Europe caused by the Greek situation may well drive traders and investors into safe haven products.

Trading Diary:

08:30am  Just waiting to see if the FTSE 100 prices rises above 6963 to trigger a ‘long’ trendFX trade (strategy-3)

08:45am    I am now in the above position with a 23 pip stop loss.

09:25am   There’s economic news out in 5 minutes so I’m now out of my trade at +23 pips.

10:10am   There’s a UTB opportunity that has just come up but there’s also more UK economic news out so the sensible thing to do is leave this one alone.

23:05pm   Been out for most of the day sailing so no more trades to report.