08:25am   Back in front of my screens today and my plans are to do some chart watching today while going through all the emails that have come in over the past 4-days. Any trades I find and take will be detailed below in my Trading Diary.

Market Update:

Although all the major indices in the U.S. closed down yesterday, the S&P-500 and Dow Jones 30 did reach all time highs once again during the day before profit taking and falls in individual shares brought the indices down.  General Electric was a major loser during the session after it lost 6.3% of its value, its largest one day fall for 6 years as lower than expected earnings were reported on Friday and concerns yesterday that the dividend will now be cut.

The overnight Asian trading session closed flat although one notable good performance came from the Japanese Nikkei-225 index that finished up by 108.65 points which is its sixteenth straight positive close and the index is now sitting at a new 21 year high at 21,805.17. Following on from this, the European trading session has got off to a lacklustre start this morning as concerns over the Catalonian situation in Spain is hanging over traders and investors so watch for some buying of Gold later in the week. Subscribers to my Trading Guidance email will note however that there is the likelihood of falls on the Gold chart today before any buying takes place according to the price action this morning.

Oil markets are up slightly this morning on news that exports from Southern Iraq are down by around 110,000 barrels per day due to local fighting in the region. WTI Crude Oil jumped in early trading although it has fallen back slightly as it reached a previous support/resistance line at $52.00, expect a possible move down to its 20-day moving averafe over the next few days.

Trading Diary:

09:10am     I have just managed to get into a ‘short’ position on my Gold chart. It actually triggered 10 minutes ago but the price did not fall quickly so I was able to enter the trade at a better level.

09:25am     The above trade is another Master-The-Trend Strategy-B pattern with an agreeable 14 pip stop loss. There is also a possibility of a similiar trade on Crude Oil soon.

09:45am     Now also in the above mentioned WTI Crude Oil trade. It’s another Master-The-Trend Strategy-B set-up with a 20 pip stop loss.

11:50am    Just back from a rather long cycle ride and seen that my WTI Crude position has been stopped out at -20 pips.  The Gold trade is still trundling along showing a small +5 pip profit currently.

12:30pm    Just taken a ‘short’ position on DAX-30 15-min chart, its a Master-The-Trend Strategy-A set-up with a 10 pip stop loss.  I do not envisage staying in very long as it is close to the U.S  trading session open.

13:30pm    The DAX price has risen quite well but is now retreating fairly quickly as the U.S. markets opens so I am now out with a  small +15 pip profit.  Gold is also reacting but still looks bearish so I will stick with it for a while and see what happens.

14:35pm     I am now eventually out of my Gold position. The price has come down to $1275:50 but is struggling to get lower so I closed the trade at +34 pips.

14:50pm   Out for a late lunch as I spent longer than I had imagined in front of my charts today. As my score so far today after three trades is +29 pips I will probably finish for the day.  Back at the usual time tomorrow morning and then a planned day off on Thursday with the family.

So far in October I have taken 15 trades of which 13 have been winners and my total score so far is +338 pips.