08:30am  I am back home after a week away and apart from some errands and shopping I shall be here in my study catching up on last week’s emails and also doing some chart watching.

Market Update:

Equity markets here in Europe and also in the U.S. ended last week mainly higher and Asian markets were mostly positively overnight although incidences in Nice and Turkey over the last few days will be in traders focus today as markets start a new week of trading. The attempted military coup on Turkey has sent the Turkish Lira falling over 5% against the U.S. Dollar and President Erdogan has been busy reassuring EU countries and global investors that the situation is firmly under control – an interesting day ahead for equities.

Gold is suffering slightly on the recent strength of the share market and the price on the daily chart has fallen down to its 20-day moving average and we will learn later today whether this level will provide any support and prompt another rise to the 2-year high of $1375 that was reached last week. Crude oil values where affected slightly by events in Turkey as the Bosphorus Strait in Istanbul sees around 3% of global oil movement come through in ships and the closure on Friday for a day during the coup attempt temporarily halted exports from the Caspian Sea region and various Black Sea ports. This morning UK Brent Crude is trading fairly flat at $47:65 after small gains last week. and U.S. WTI Crude is moving in a similiar direction.

Trading Diary:

09:05am   Nothing much to get excited about on my collection of favourite charts as the week’s trading gets underway in Europe so I am off for a cycle ride in the sun for a few hours.

12:30pm  Just entered a ‘short’ position on my U.S. WTI Crude Oil chart. It is a trendFX strategy-3 set-up and my stop loss is 24 pips.

15:55pm   I have been outside in the garden for most of the afternoon but just looked at my chart and seen that my WTI Crude trade was well in profit so I have now  closed it off at +68 pips. That’s it for trading today, back in front of my charts tomorrow morning.