06:30am    Early start for me as I have meetings with builders at 8am  but I will be chart watching through the morning as well so any trades I have will be detailed below.

I am away tomorrow on a boat trip so after today I will be back trading on Thursday.

Market Update:

The main market news in the past 24-hours is the growing weakness of the U.S. Dollar due to concerns over Donald Trump’s protectionism policies and his withdrawal from the Trans Pacific Partnership (TPP). Proposed stricter border controls and the unwinding of trade deals with other countries is seen by the markets as being negative for the U.S. Currency and the Dollar Index has fallen to the 100 level but has risen slightly in the past few hours to 100.05.

Yesterday’s U.S. trading session ended slightly down after a mixed performance by equities, the main S&P-500 index closed at 2265.20 after being as high as 2271.90 but there does not seem much enthusiasm for buying as traders watch developments from Trump’s office. The overnight Asian session was equally as ‘mixed’ with the Japanese Nikkei 225 index extending Monday’s losses, closing down 0.55% eventually although most other indices managed to finish slightly in the black.

Oil is also in focus in the U.S. as Trump has issued a warning that he does not want to rely on imported crude oil for much longer and this hints at high production for domestic fields. This assumption pushed U.S. WTI Crude down by 52 cents to close at $52.79 after reaching a session high of $53.44 but it is trading higher this morning but with a small resistance on the daily chart at $53.50.

Trading Diary:

09:00am    Just had quick look at my collection of favourite charts and there’s nothing much to get excited about yet so I am off for a cycle ride for an hour or so.

10:20am    Back now and noticed that a ‘short’ trade triggered a short while ago on my Gold 30-min chart so I have just entered a position at an advantageous level as the price has retraced slightly – it’s a Master-The-Trend Strategy-B set-up and my stop loss has come out at  19 pips.  There was a ‘long’ trade that triggered on my S&P-500 15-min chart a few minutes ago as well but I have let that go as the chart is still slightly volatile and unpredictable – not too bothered about about taking trades on the S&P today.

14:05pm   I’ve just got back from a pleasant lunch and seen that my Gold position has been stopped out at -19 pips.

15:10pm    The collection of favourite charts that I tend to watch each day are behaving with a fair amount of volatility at the moment so I switching my charts off and finishing for the day.  A nice break for me tomorrow out on a boat means I will not be back in front of my screens until Thursday morning.