07:35am   Just sent off my daily ‘Trading-Guidance’ email and I shall be spending the rest of the morning here in the study catching up on emails and watching my favourite charts as well. I will report back here if I have any trades.

Market Update:

Trader friends working on floors in London that I spoke to yesterday seem to have now decided that the Greek situation is beyond hope and an exit from the EU is now inevitable and they are now looking for other reasons for any market participation. U.S. equities had a fairly positive day on Tuesday even though the Housing Starts numbers were down on expectations, it would seem that corporate activity is keeping the markets up at the moment with the main Dow Jones 30 index finishing 113 points up at 17905 with the broader S&P 500 up a similiar percentage. European equities also had a fairly positive day after Monday’s sell-off and it does look as though a Greek exit is partly priced into the market – although it is now firmly on the cards it will still take quite a while to complete and will be fairly orderly.

As it’s Wednesday we have the weekly U.S. Crude Oil stock situation in Cushing, Wyoming and there is an expectation of a reduction in stockpiles which together with reduced drilling caused WTI Crude to rise during yesterday’s session by almost 50 cents to $60:04 and on the Daily chart the bullish trend is just about hanging on with support at $56:40.

Trading Diary:

08:40am   Nothing really occurring on my selection of favourite charts so I am off for a cycle ride.

11:25am   Just got into a ‘short’ position on my FTSE 100 chart using a trendFX strategy-3 set-up. My stop loss is a whopping 11 pips.

13:40pm   My trade did get to +15 pips but the price now has very quickly shot up as the U.S. session is starting up so I’ve closed it off at break-even.

13:55pm   Off for a late lunch and then clay pigeon shooting this afternoon