08:55am  After a long weekend break I am having a lazy day here at home so any trades I have will be reported in this diary.

Market Update:

Two main subjects are dominating the markets this week – the falling crude oil price and the U.S. Federal Reserve’s interest rate decision. the FOMC has begun its two day meeting to decide on the direction of  the U.S. lending rate and an announcement will be made tomorrow evening (Wednesday) at 19:00 hrs UK time. There is an over 80% expectation that rates will double from the present record low of  0.25% to a whopping 0.50% and that will be it until March/April next year, so there will be a certain amount of volume in the S&P500 and Dow Jones 30 indices today but expect traders to be fairly quiet tomorrow in the run-up to Janet Yellen’s announcement in the evening.

The other main news is falling crude oil prices and U.S. WTI Crude has now dropped below the significant $35 level although commodity traders turned to bargain hunting late in yesterday’s session and a buying spree drove the price back up to $36:23 at the close and currently sentiment is stable at $36:50.  The UK Brent Crude benchmark has suffered a similar fate and fell to a 7-year low of $36:32 but has also recovered this morning to stand at $38:22 currently.

Trading Diary:

09:00am  Possible ‘long’ trade on my UK FTSE100 chart – more details soon.

09:15am   I am now in a ‘long’ position using my trendFX strategy-3 set-up on the FTSE100 with a 18 pip stop loss

10:10am    Now in another ‘long’ trendFX strategy-3 position, this time it’s my WTI Crude chart — the stop loss is 20 pips.

10:40am   Still in my FTSE position as it is struggling its way up to a reasonable profit but I’m now out of the WTI trade – it has managed +43 pips.

10:45am   Although the FTSE trade is not really going anywhere at the moment, the price is forming a triangle so it’s going to break out one way or the other soon.

11:50am   The FTSE100 price broke upwards in the end and it has just hit the 1:1 profit level at 5983 so I am now out of my position at +18 pips. Out for a cycle ride soon then a quick lunch at the Lord Nelson.

13:45pm   Not long been back and I’m now in another ‘long’ position on the FTSE100 – although this time it is a trendFX strategy-1 set-up. The stop loss is just 10 pips.

16:10pm    This was my last trade of the day and the FTSE has slowed right down and started a small reversal so I am now out.  It’s resulted in a +46 pip profit so all in all I have managed +107 pips