08:50am   I am back from a short holiday and I am planning to be at home today catching up on emails and Skype calls and also watching my collection of favourite charts from time to time through the day. Any trades I find/take will be detailed below.

Market Update:

U.S equity markets where closed yesterday for President’s Day, European markets were negative on the whole and the overnight Asian market was quiet with low volumes across the region as China continues its New Year celebrations. This morning the U.S. futures markets are starting in a negative direction although here in Europe the French CAC-40 and German DAX-30 have began to look more bullish after a poor show at the start of the week as traders concentrate on earnings releases as there is a lack of economic news out today.

Oil markets are at an unusual point this week where the U.S. WTI Crude and global benchmark Brent Crude are going in different directions, contrary to their usual behaviour. Although Brent Crude is moving down from its 20-day moving average this morning, WTI has been given a boost due to reduced outflows from Canada. The Keystone Pipeline has been operating below capacity for the last few months due to previous leaks but was supposed to back to full flow by now, ongoing problems  are preventing this. WTI Crude rose 78 cents by the close last night to finish at $62.32 but is slightly down this morning at $62.09 although it may find some support at its 20-day moving average as the morning progresses.

Gold has had two consecutive negative sessions as Chinese buyers slowly disappear from the market and this morning it has fallen further from last night’s close at $1346.60, it is currently down another $9.40 but the price may also find some support at its 20-day moving average – I will send out a chart to subscribers soon.

Trading Diary:

09:25am    I have just taken a ‘short’ position on my Brent Crude 15-min chart. It’s a Master-The-Trend Strategy-B set-up with an 18 pip stop loss.

10:35am    I have taken a quick +47 pip profit as the price has moved down quite quickly and I am also ready for my daily cycle ride.  Back in a few hours.

13:35pm    I am in a ‘long’ position now on my German DAX-30 15-min chart, it’s another Master-The-Trend Strategy-B patterns with an 11 pip stop loss.

14:55pm     The DAX price has been very volatile over the past hour as the U.S. markets open for Tuesday’s session so I have been watching the screen intently and I am now happy with the score so the position is now closed.  The trade ended at +66 pips, giving me +113 pips for the day – so time to switch off my screens for another day.