08:10am   I shall be at home for most of the day watching the markets and the reaction to this morning’s U.S. election result – any trades I do have will be reported below.

Market Update:

Markets are dominated of course by the Trump victory in the U.S. election and the overnight volatility may calm down slightly as the day goes on – Asian markets reacted first as clues to a surprise result started emerging with the Japanese Nikkei 225 index falling by over 5% at one stage and the Hang Seng was not far behind. European markets are opening this morning with similiar moves although initial losses are recovering slightly with the FTSE-1oo in London opening at 6621 and is now sitting at 6645 with further rises on the cards in the next hour.

U.S. futures are also down understandably and the S&P-500 is looking to open later around 2080 against a close last night at 2139 so they are recovering slightly – at one stage earlier this morning the index was down at 2034. Safe haven investments have done well amidst the turmoil, the USD/JPY forex pair touched the 101.10 level briefly before recovering and Gold has rallied as high as $1337 but has fallen back to $1303 currently.  It is going to be an interesting day’s trading……

Trading Diary:

09:35am   I hadn’t expected to see any of my trading system patterns for a while as the markets settle down from the overnight volatility but the U.S. WTI Crude 15min chart has just produced a trendFX strategy-3 opportunity.  A price rise above the $44:57 level has just triggered the trade and I am now in ‘long’ position with a 40 pip stop loss – slightly higher than normal but it does reflect the continuing volatility in the markets at the moment.

11:10am  Just entered a ‘short’ UTB position on my S&P-500 chart – the market is quite volatile so not sure how it’ll fair. Just looking at the WTI trade now as well.

11:15am   The bullish momentum on the WTI Crude chart is slowing slightly and the price has reversed from the $45:30 recent resistance line so I am now out of my trade – the score was +42 pips.  My S&P-500 position has a 99 pip stop loss, again indicative of the extreme volatility in U.S. equity markets.

11:35am   The price on the S&P-500 has fallen quite quickly but has now began to climb so I am now out of that position as well.  I have covered just over my stop loss – the position has given me +101 pips.

Off out now for a cycle ride in the rain and then some lunch and I am not too worried about having any more trades today as I’m happy with the score so far, so I will be back in front of my chart tomorrow morning.