08:20am   Planning a quiet day at home today in front of my screens plus catching up on emails and Skype calls with new traders. Any trades I have will be reported below.

Market Update:

Yesterday’s U.S. equity markets endured a mixed session and ended with the main Dow Jones 30 index closing slightly down on the day at -0.18% but the wider S&P-500 started negatively but quickly staged a bullish comeback and ended 1.59 points up on optimism in the housing sector although banking stocks did their best to drag the average down.  The overnight Asian session was fairly bullish as Gold and Oil prices provided a lift for traders, the Chinese indices were up between 0.2% and 0.5% but the Japanese Nikkei 225 index closed down 0.53% despite a more upbeat Machine Tool Orders survey that showed renewed optimism in the sector.

Gold had another good day and is now moving above its 200-day moving average which is normally quite a bullish sign for traders, it closed up $7.90 at $1241.20 and is trading slightly higher this morning at $1242.12. Crude oil prices were also in focus during Wednesday’s session, U.S. WTI Crude staged a bullish price reversal close to its 50-day moving average and closed up 73 cents at $52.35 and this morning traders are still buying and have pushed the price upto the $52.70 level.

Trading Diary:

09:30am    I have just entered a ‘long’ position on my GOLD 15min chart, it’s a Master-The-Trend Strategy-B pattern with a 23 pip stop loss.

10:35am   Just done the  half hourly check on my favourite charts and I’ve notice my GOLD position has been stopped out at -23 pips.  Nothing much else to get excited about at the moment.

11:05am  I’m now in a ‘long’ position on my German DAX-30 15min chart, it’s a UTB price-reversal pattern with a 12 pip stop loss.

12:10pm   The Dax price has shot up but is now settling down and coming back slightly towards the 11600 level so I have closed my position of at +56 pips.  These types of trades are really the icing on the cake after a week of small(ish) profits.  Every so often you will get a trade that shoots off in the direction you want and will provide you with a profit that’s two or three times the risk and it’s these occasional trades that help raise your average monthly profits.

After a morning inside I am off for a cycle ride soon and then lunch at my new ‘local’

14:35pm    I’ve got back indoors from lunch and glanced at my list of favourite charts and there is nothing for me to get mildly excited about so far as trade opportunities are concerned, so I am calling it a day on my trading activities as I am more than satisfied with my score so far today (+33 pips)

I am taking ‘Head-Office’ to hospital tomorrow for a minor operation and then having a long weekend break so I shall be back in front of my charts next Tuesday morning – I hope you all have a nice relaxing weekend.