07:20am    I’ve just emailed out my daily ‘Trading-Guidance’ sheet to subscribers and before I get going with some ‘work’ this morning, I am off for a cycle ride along the beach path down past Dunwich. If I have any trades today I will report the details here.

Market Update:

With U.S. markets closed for Labor Day yesterday the markets here in Europe were reasonably subdued but with disappointing Chinese trade data out earlier this morning traders will be in a bearish mood, especially after lower than expected U.S. jobs numbers last Friday. The only light at the end of the tunnel was the latest German trade balance announcement released a few minutes ago so European indices are starting positively so far with the Dax 30 index looking at rising towards the 10,300 level as the next target.

On the Crude Oil markets, U.S.  WTI fell slightly yesterday to end the day at $44.26 per barrel as talks between Russia and Organisation Of Petrol Exporting Countries (OPEC) failed to reach a supply agreement and Gold is still heading towards a near-term support at $1,115 as investors remain unclear as to the timing of a U.S. interest rate rise.

Trading Diary:

09:25am   Not much happening on my charts so I’m off out into the garden for a few hours to do some jobs.

12:30pm   Been back indoors for a half an hour and all I can see on my charts is a possible ‘long’ trade on my U.S. WTI Crude chart that may trigger if the price rises soon.

12:45pm   Now in the ‘long’ WTI position. it’s a trendFX strategy-3 set-up with a 27 pip stop loss.

14:10pm     Markets are getting quite volatile as the U.S. trading session gets underway after yesterday’s holiday and I am now out of my WTI position prematurely as I’ve been watching it for the last 10 minutes and I cannot see much upside. I have come away with a slim 15 pip profit.

15:30pm   Nothing much on my charts now so back to gardening for the rest of the day