08:25am  Nice relaxing day at home today so if I have any trades I will report them here.

Market Update:

Although Friday’s trading session was mainly subdued, last week as a whole was largely positive and the fall in prices at the end was mainly due to profit taking and this has been backed up after the overnight Asian session which is coming to an end as I write this. Chinese and Japanese indices are largely positive this morning and this optimism has spilled over to the start of the European session where the FTSE-100, Dax-30 and CAC-40 are all trading up at the moment – Germany’s main equity market was up nearly 40 points at the open and is looking at further bullish moves in the next few hours.

Crude oil is still quite bullish following last week’s news of a possible production restrictions by major players although the U.S. benchmark WTI Crude’s daily price chart is coming up a 50 day moving average resistance line while being overbought as well, so we could see some falls this week. UK’s Brent Crude is looking more bearish though as it has already reversed at the 50MA and is in a state of indecision this morning. Gold is staging a small bearish reversal at the moment after reaching a high of $1263 on the 11th February, it’s currently sitting at $1208:20 as strength in equity markets takes it toll on investment in the is traditionally safe haven asset.

Trading Diary:

08:50am   Just had a cursory glance at my group of favourite charts and there’s nothing much to get excited about as the European session gets going for the week so I am off for a cycle ride up the coastal path for an hour or so.

 11:15am   Just got into a ‘long’ position on my S&P-500 15min. chart — it’s a trendFX strategy-1 set up and I have a reasonable 20 pip stop loss.

12:10pm   I checked my MT4 platform a few minutes ago and noticed that my S&P-500 trade has just been stopped out so my score so far today is -20 pips.

13:00pm    There’s a possibility of another ‘long’ trade on my s&P-500 chart, this time on the 30 minute chart.

13:10pm   I am now in the above mentioned position, it’s another trendFX strategy-1 set-up but this time the stop loss is slightly higher at 33 pips mainly due to a higher timeframe.

13:25pm   Off out for a late lunch so target set at +33 pips.

14:40pm    Just arrived back from lunch to see my second S&P-500 trade has also been stopped out.  After two losses it is always to have a break for the day so charts off now, back tomorrow.