07:30am   Relatively early start for me today as I am off to London early this afternoon until tomorrow night – but I will be doing some chart watching this morning so any trades I have will be reported below.

My next Market Update will be on Friday when I will also have news regarding my updated trendFX system manual – probably my most successful trading strategy.

Market Update:

U.S. equity markets closed up yesterday as healthcare and property companies gained the most even though oil prices were under pressure ahead of today’s OPEC meeting.  There is some unease as to how the meeting and on the back of these concerns WTI Crude closed down 3.9% at $45.23 after hitting a small support level at $44.75 – there has been some buying in the past few hours though and the price is up at $45.68.

The overnight Asian trading session ended mixed again as traders sit on their hands ahead of the aforementioned OPEC meeting and European equities are muted this morning before ECB president Mario Draghi speaks at lunchtime outlining future monetary policy. Gold has been below the significant $1200 for a week now and a price target of $1170 looks likely by the end of the week but this move will depend on whether equity markets rise further and that’s dependent on oil prices  -  markets are very interesting……

Trading Diary:

08:40am   I had a signal a short while ago from my trendFX system that the price on the Brent Crude chart was starting a strong trend and about to go higher so I am now in a ‘long’ position with a 59 pip stop loss. This is more than normal risk for the 30 minute chart that I am working on at the moment but if it concerns you – just halve or quarter your normal position size.  It is a strategy-3 pattern from the trendFX  manual.

09:15am   Unusually I am keeping a close eye on my position as there will be announcements during the day with regard to the OPEC meeting and they will affect the price, sometimes dramatically. At the moment the price has risen well, my position is at +88 pips so I have just brought my stop loss upto break-even to guard against shock movements.

09:30am   Going out for a cycle ride with neighbours so I have brought my stop loss upto +59 pips just in case of ‘rapid’ price movements.

11:10am   Back home now and my Brent Crude position has shot up – I am happy with the score so I closed the trade off a few minutes ago at +221 pips and I will send out a chart screenshot to all subscribers in a moment.

I am off to London soon so no more chart watching for me today and as I am away tomorrow and it is Non Farm Payrolls on Friday, that’s it for trading this week (and this month). I will however have some news tomorrow evening regarding my updated trendFX system manual that will be released within the next week – watch out for an email.

My total profit for November has come in at +938 pips, mostly from the trendFX patterns.