07:55am    I shall mostly be a home today apart from a visit to Norwich later this afternoon so if I have any trades I will report them here.

Market Update:

The U.S. markets ended well last night with a late rally and this should spur European equities this morning to start Wednesday’s session optimistically. The overnight Asian session was not as positive though with only the Chinese Shanghai Composite ended ahead, the Hang Seng, Nikkei and Australian ASX 200 all finished negatively, mainly due to worries over escalating tensions in Syria following the shooting down of a Russian plane yesterday and also further falls in Iron Ore which is Australia’s largest export commodity.

The problems yesterday between Turkey and Russia also boosted investor’s interest in safe haven products such as the Japanese Yen and Gold. The yellow metal is continuing its move above the $1065 recent low with a largely positive session yesterday with the weekly chart suggesting some more bullish moves towards the end of the year.  Crude oil is also enjoying a boost in values after Saudi Arabia’s announcement that they are now willing to talk about restricting production and give up their fight with the U.S. oil industry, WTI Crude had a positive session yesterday and hit its 20 day moving average before retreating back slightly. Today’s U.S. Crude Oil Inventories should set the direction for the next few days, there is an expectation of higher stocks which could have a negative reaction to the price.

Trading Diary:

08:50am   Nothing to see on my charts at the moment so off for a cycle ride down towards Dunwich.

10:20am   Just got back and there’s a possible ‘long’ trendFX strategy-3 pattern setting up on my Dax-30 chart.

10:40am   The Dax price has risen above the 11.062 level so the trade has been triggered. My stop loss is 24 pips.

11:25am    I am now out of my Dax position after price has stalled slightly, happy with a +30 pip profit.

12:10pm    Now in another trendFX position, this time it’s a strategy-1 set-up on my Brent Crude chart and my stop loss is 21 pips.

13:00pm   My Brent position is doing ok so I shall wait and see what happens as the U.S. trading gets underway in 30 minutes, I have moved my stop loss upto break even in case the markets become volatile.

13:35pm    Just been invited out to lunch and as I’m happy with the profit so far I’ve just closed off my Brent Crude position. It has managed +29 pips so a total of +59 pips for the day so far but probably my last trade as I’m off to Norwich at 3pm.