09:30am   Nice relaxed start to my trading day after a very late night and I am planning to be at home now for the rest of the day and any trades I take will be detailed below in my Trading Diary.

Market Update:

European markets were higher yesterday as third quarter earnings came in higher than expected and last night’s U.S. market close was also bullish with he Dow Jones 30 index closing above the 23,000 level for the first time ever after a rise of 160 points which was helped by IBM  after they released quarterly results that came in higher than expected.  This optimism did not carry through to the overnight Asian trading session even though the wealth of Chinese economic data released through the session came in widely as expected, the Hang Seng ended the day as the largest loser with a fall of 1.32% due to a large amount of selling right at the end of today’s session.

Oil markets are being driven by some fairly upbeat news at the moment, the U.S. benchmark WTI Crude had a positive European session yesterday as the stock situation in the U.S.  continues to tighten and the market believes that OPEC production cuts will be extended further into 2018.  Technical traders have struggled to see any upside above the $52:25 level though and this is causing some selling this morning and WTI is coming down from that level and is currently sitting at $51:40 after finishing at $52:00 last night.

Gold is continuing to suffer as traders and investors continue to pour money into equities although we could see a small rise as profits are taken out of the U.S. indices following the rise to record levels. The yellow metal reversed once again at the $1277 level last night and has risen sharply this morning to $1283.60 with further bullish moves predicted by many traders.

Trading Diary:

11:00am  Just taken a ‘short’ position on my 15-min FTSE-1oo chart, my stop loss is 8 pips.  It’s yet another Master-The-Trend set-up, this time a Strategy-A patetrn.

12:10pm  Out for a cycle ride in a minute so closed my FTSE position, I will send out exact details and chart screenshot as usual to customers as soon as I get back. Score +22 pips.

14:15pm   Back home now and nothing much happening on my collection of favourite charts so I am switching the screens off for the day, happy with my score so far.