07:25am    Just getting down to email replies after sending out my daily ‘Trading-Guidance’ email and I also have 6 Skype calls this morning so far. If I have any trades this morning I will post details here and this afternoon it’s hoped that we’ll be sailing, the weather is far too good to be stuck here in the study.

Market Update:

Eagle-eared traders took advantage of a quick Bloomberg news item yesterday and started buying equities after the business channel reported that Angela Merkel was considering relaxing her stance on criteria that was currently stopping Greece accessing the next tranche of bailout funds. There is a meeting between Prime Minister Alexis Tsipras and the European Commission’s Jean Claude Junker later today so we will see if Bloomberg’s sources were solid or it was just a market manipulation move.  On this news U.S. equities rallied to levels higher than we saw as the new year started although there is still the imminent rate rise weighing heavily on the Dow Jones 30 and S&P 500 so this mini-rally may well be short lived.

Crude Oil markets were given a boost yesterday after U.S. inventory number for Cushing, Wyoming showed that stock declined by nearly 7 million barrels last week as shale producers struggle to regain the lost production after the dramatic price drop of oil last year. Opposing this sentiment is OPEC’s full on production promises and this may put a cap on recent rises, WTI Crude and UK Brent are close to resistance levels so are at important points on the daily charts.

Trading Diary:

08:10am   Just got into a ‘short’ position on my Gold chart — it’s a trendFX strategy-3 set-up with an 18 pip stop loss.

11:20am   Going on bike ride with a couple of friends so I’ve closed off my Gold trade, happy with the +49 pip score.