08:50am   Not much planned for the day apart from emails and some chart watching this morning – any trade opportunities I do find will be reported below in my Trading Diary

Market Update:

Asian markets started the week with mixed results with no large winners or losers and that sentiment has transferred over to the European trading session open where indices traded largely flat earlier ahead of key central bank statements later in the week from the U.S. and Japan although a few of them are now picking up and moving ahead from Friday’s close. Indices in the U.S. closed ahead for the week on Friday with the S&P 500 reaching another record level of 2175:70 and that figure has been surpassed in overnight futures trading last night and is now trading just below that level and the daily chart is looking quite bullish this morning.

The Gold price looks to be heading back down towards last week’s low of $1310 as most equity markets shrug off worries over the UK Brexit vote and lower growth expectations in China and we could see a further fall to the $1300 level if the $1310 price is breached this week. Oil continues to fall as well on over supply concerns, U.S. WTI Crude is now at $44:10 on a fairly bearish daily chart, having just fallen below its 200-day moving average.

Trading Diary:

11:05am   Just back from cycle ride and the only possible opportunity I can see on my charts at the moment is a potential UTB pattern on my UK FTSE-100 chart, more news soon.

11:20am   The price on the FTSE-100 15min chart has just fallen below the trigger level of 6736 so I am now in a ‘short’ UTB position, my stop loss this time is 8 pips.

12:25pm    Off out to lunch now, leaving my FTSE trade with its 8 pip stop loss but keeping target open for the time being – I will see what happens when I’m back around 2pm

14:30pm   Just got back and the position is doing ok (+11 pips) but I’m going to hang on a while longer as the stop loss is so small.

17:25pm   Just come in from the garden to see how my trade is fairing and the FTSE price hit a low at 6690 around an hour ago but has retreated up slightly – so I’ve closed the position off at +38 pips a few seconds ago.