07:35am   Back to my charts this morning plus catching up on emails before flying out to Majorca later this afternoon

Market Update:

U.S. equity markets did end up on Tuesday evening but without much enthusiasm and this will translate to a muted opening in Europe this morning with prospects of a quiet days trading here due to the U.S. Veteran’s Day bank holiday. Overnight in Asian, markets ended mixed with no real direction either way after Chinese Industrial Production figures came in slightly lower than expected and here in Europe we have a speech by European Central Bank President Mario Draghi later this afternoon where it is rumoured he will announce more ‘easing’ which translates to good old fashioned money printing – watch out for a reaction on the Dax and Euro if you are in those markets after lunch.

On the Crude Oil market there was a report out by the American Petroleum Institute yesterday that showed that crude oil inventories are going to come out far higher than expected later this week – this caused WTI Crude to fall by 44 cents to $43:75 by the close last night and currently is a further 10 cents down at the moment at $43:65.

Trading Diary:

10:05am   Just got back from a cycle ride and can see a possible UTB trade setting up on my Dax 30 chart.

10:15am   I am now in the short UTB position mentioned above, my stop loss is 19 pips.

11:20am   My Dax chart has just produced a nice bullish reversal candle so I’ve just come out of my UTB position – my score was +20 pips.

12:35pm   Just had a last look at my charts for the day but nothing much to get excied about so that’s it until tomorrow.