07:25am   Just sent off my daily ‘Trading-Guidance’ email to subscribers and I’m off for a quick cycle ride in a minute in the glorious sunny weather that we have up here at the moment. I shall be watching some charts when I am back so will report any trades here as they occur.

Market Update:

The Greek situation is still rumbling on with Prime Minister Alexis Tsipras announcing in the middle of the night that he was ‘very close’ to an agreement with the the IMF and ECB but we’ve only heard one side of the story so far today so traders have nothing to base any trading on yet for Thursday’s session. There is also employment numbers out in the U.S. today which will give the markets a guide to tomorrow’s important Non Farm Payroll announcement and there is a general air of optimism so we may see the S&P 500 head up towards its resistance level at 2138 again although as always, good news is also perceived as bad so there could also be a drop on the cards. Ahead of tomorrow’s jobs numbers, U.S. equities were generally bullish during yesterday’s session although the volume will disappear later today as traders sort out their positions for the big rush on Friday afternoon.

Crude oil markets were affected by comment’s from Iran’s Energy Minister that once sanctions are eventually lifted they will increase production within OPEC and this news caused a small amount of panic in the futures market and WTI Crude fell almost $1:50 by the end of yesterday’s session to end the day at $59:61 and looking at the daily chart shows the bullish trend is now struggling to keep up momentum. Gold also had a bearish day after good news in the U.S. pushes the Fed towards an early rate rise and the price is now heading towards the long term support level at $1170.

Trading Diary:

08:30am   Just back from my cycle ride and there’s a few possible trades setting up on my favourite charts.

08:45am   I am now in a ‘short’ position on my S&P 500 chart — it’s a trendFX strategy-3 pattern with a 44 pip stop loss.

09:20am   Off shopping in Halesworth for an hour so I’ve set my stop loss at break even but left the target open.

10:45am    Arrived back and glanced at my S&P chart a few moments ago and as the profit was sitting at +61 pips I’ve closed the position off.

16:10pm    Been out in the garden all afternoon so no more trading to report.