07:25am   Early start today as I am off sailing after lunch but I shall be here at home before then watching my favourite charts and answering emails from new traders.

Market Update:

U.S. markets closed on a high last night after Janet Yellen’s comments put paid to any hope of a June rate rise although most traders had discounted the chance anyway given the impending UK ‘Brexit’ vote in a few weeks time. Friday’s jobs numbers has put the dampeners on a decision for the time being so July’s Non Farm Payrolls announcement will be watched carefully and any encouraging numbers will send equity markets into freefall.

The S&P 500 closed at its highest level since last November although the narrower Dow Jones 30 is not following suit at the moment but this optimism is spreading across the Atlantic this morning with most European equity markets starting the session in a bullish mood following a fairly upbeat overnight Asian trading session. Crude oil is once again on the march upwards with U.S. WTI Crude approaching the $50 level again on a weaker U.S. Dollar and concerns over the Nigerian oil industry where terrorist attacks are upsetting the supply chain in the country.

Trading Diary:

09:10am   Nothing has developed on my list of favourite charts so I am off for a cycle ride along the beach down past Dunwich.

11:45am  Been back for an hour or so and the only possible trade that may develop is a ‘short’ set-up on my Gold chart. It depends on the price falling lower than $1241.50 in the next 30 minutes or so.

11:55am   The Gold price has fallen nicely and I am now in a trendFX strategy-1 position with a ‘whopping’ 13 pip stop loss.

12:40pm   Off out soon for some lunch so I’ve just closed my Gold trade at +42 pips.

Back here tomorrow for some more trading, I am finished with trading for the day now.