08:50am  Back in front of my charts today after a short break and any trades I find will be reported below in my Trading Diary.

Market Update:

Markets in Europe ended on a high note as Auto maker’s shares surged together with a positive start on Wall Street at the beginning of the week despite political concerns in Germany over Merkel’s chancellorship.  U.S. stocks continued their rise through the session and closed higher with the Dow Jones 30 posting a 72 point gain by the close, the main driver of this optimism is the continuing hope that Trump’s tax reform bill will come to fruition soon and help companies lower their corporate tax bills.

The overnight Asian trading session ended broadly ahead with virtually all major indices closing in the black, mainly due to a positive end to the U.S. session and also some encouraging economic data from Japan and China in the past 24hrs.  Gold struggled to hold onto Friday’s gains yesterday and finished the day down by $16:20 at $1276:20 on a strong Dollar and after investors moved into equities although we are seeing some buying activity this morning and the price has risen well to $1280:05.

Crude oil had a largely positive trading session on Monday as hopes for the promised OPEC production cut extension will be confirmed soon at the meeting of all members on 30th November when a vote to extend the cuts for the whole of 2018 should be passed.  WTI Crude rose $1:41 by last night’s close to $56:64 although we have seen some profit taking this morning and the price is now sitting at $55:72.

Trading Diary:

09:40am   Just taken a ‘long’ position on my U.S. S&P-500 30-min chart, it is a Master-The-Reversal UTB Price-Reversal pattern with a 20 pip stop loss.

09:45am   Now in a ‘long’ position on my German DAX-30 1-hr chart as well, it’s a new Master-The-Trend Strategy-B+ set-up and due to the high timeframe my stop loss is 43 pips.

11:05am    The bullish price on both my DAX-30 and S&P-500 charts have slowed considerably over the last 20 minutes or so, so I have taken this opportunity to close both positions.  The DAX-30 trade has given me +63 pips and the S&P-500 one has closed at +61 pips.   Off for a cycle ride now and then lunch out with some fellow traders.

16:40pm    Quick update – No further trades to report, I’ve been out all afternoon with a slight family emergency.  Back in front of my screens tomorrow morning hopefully