07:45am   Uneventful day planned at home so any trades I have will be reported below.

Market Update:

U.S. markets ended Tuesday’s session mainly flat ahead of the FOMC’s interest rate statement this evening although the tech-focused Nasdaq index hit another intraday high at 6102.72 before falling back slightly by the close. The main driver of the index was Apple shares as traders pile in ahead of the earning’s report and after hours they did announce a slight rise in revenue & profits compared with the same quarter of 2016 and also revealed they have returned over $210 billion to shareholders in the past 5 years.

There is little expectation of a Federal Reserve rate rise although there are still expectations of a couple of hikes before the end of the year but U.S. markets could still drift sideways as traders sit on the sidelines.  The overnight Asian session ended mixed ahead of bank holidays in Japan, Hong Kong and South Korea and reports emerged traders were also wary of any surprises from the Fed over interest rates.

Gold traded virtually flat yesterday as it bounced off its 50-day moving average and now looks as though it could rise during today’s session – it is currently sitting at $1254.60 and the $1250 support still looks valid.  WTI Crude fell 73 cents yesterday and almost touched the $47.00 support level again although it has risen slightly during the overnight Asian session and is currently at $47:87, we could expect it to test the support again before the end of the week.

Trading Diary:

09:55am   I have just entered a ‘long’ position on my FTSE-100 15-min chart, it’s a UTB Price-Reversal pattern and my stop loss is a very reasonable 7 pips !

10:25am      Taken a quick +10 pip profit on my FTSE position,  I noted in my daily Trading Guidance Sheet this morning that the tendency for the index could be down today when looking at the daily chart so I closed off the trade before the bearish momentum gets going again.

10:40am   Back in a FTSE position, this time it’s a Master-The-Trend bearish trade. It’s a Strategy-A set-up with an 8 pip stop loss.

11:30am   Off out with some friends for a cycle ride, I keeping the stop loss at 8 pips on my FTSE-100 position as it is so low anyway but I’ll leave the target open at the moment.

13:25pm    I have just returned home and seen that my FTSE trade is just going sideways now so I have brought my stop loss upto break even to protect my day’s profit so far.

15:45pm    The markets are becoming quite volatile but the FTSE-100 is not really coming down as much as other instruments (S&P-500/Oil/Gold) so I closed off my position at +15 pips.

16:05pm    I am switching off my screens for the day – back early tomorrow for a morning’s trading.