08:15am   Back home this morning after a week’s holiday so not sure how much chart watching I’ll manage today as I have a few errands to run – any trades I do have will be detailed below.

Market Update:

While I’ve been away the equity markets have been fairly mixed with European indices coming out behind but the S&P 500 and Dow Jones 30 ended the week slightly ahead which reflected the worry that traders and investors have over this week’s UK referendum on staying in the EU. These concerns have eased over the weekend so we have seen a buoyant Asian market plus a positive start here in Europe as fears that the Brexit campaign was winning have subsided after several polls show that the Remain camp are showing a slight lead again.

This optimism is prevalent in the Crude Oil market as well this morning with WTI Crude ahead by 20 cents, building on a large rise on Friday on the back of a weaker U.S. Dollar. The price is now heading back towards towards the high of  $51:60 that was reached a couple of weeks ago (currently $49:31) after six straight losing sessions ending on Thursday night. With relative uncertainty in equity markets, Gold has had a good run up over the past 3 weeks from a low at the beginning of June of $1199 to a reading of $1286:61 this morning although higher indices will calm buying today as well as profit taking from the overnight Asian session.

Trading Diary:

09:10am    There could be a ‘long’ trendFX trade coming up on my S&P500 chart if the right candle is formed in the next 5 minutes and then the price continues rising.

09:20am   The price on the S&P has risen above 2090.90 so I am now in a ‘long’ position using strategy-1 from the trendFX manual. My stop loss is 15 pips.

10:45am    My trade is still plodding along quite nicely and is currently sitting at +9 pips but I’m going to keep my stop loss at its current level while I pop into town for an hour as it will give the trade space to ‘breathe’ – no target set yet, I will see how it gets on later as the price is currently giving me numerous clues that it will continue to rise as we go towards the U.S. open.

12:55pm    The S&P 500 chart does not seem to be able get over the 2095.50 level at the moment so I have closed my trade off now at 2095.20 giving me +39 pips as I am off the pub for lunch with some fellow traders. I will send out a chart showing the exact details to subscribers when I’m back.

14:30pm   Back home but no more trading for me today, I’ve a heap of errands & jobs to get done this afternoon. Back in front of the charts tomorrow.