08:45am   Off to London for a couple of days but travelling by train this morning so will still watch my charts for any trade opportunities, any positions I take will be detailed below in my Trading Diary.

Market Update:

U.S. markets held up quite well to begin with yesterday but then sold off dramatically in the last few hours. The Federal Reserve kept interest rates on hold which was largely expected sighting inflation coming close to 2% as the main reason for their decision and this kept equity indices positive although the last hour of trading saw sharp declines and the Dow Jones 30 index closed down by more than 170 points (-0.72%) at the close last night.

The overnight Asian market ended mixed as traders concentrated on U.S./China trade talks, the Hang Seng index was the worst performer of the session, eventually closing down -1.34% (411.34 points) even through the main Chinese index finished ahead by 19 points. Oil markets are looking bearish now after an initial rise at the beginning of this week, Brent Crude rose to a new 3-year high on Monday ($75.60) before some profit taking brought the price down and it has continued to slip through the week due mainly to rising U.S. stocks and record production – price this morning is $73.41. News has emerged that the U.S. is now a larger producer of Crude the Saudi Arabia which is upsetting OPEC’s quest to limit production and prop up the price through 2018.

Gold has had a largely negative week despite equity markets struggling to rise, it  has fallen from April’s high of $1365.22 to the minor support at $1300 which it touched on Tuesday night. It’s now at the 200-day moving average ($1310.0) so watch for trading opportunities.

Trading Diary:

10:30am     I’ve taken a ‘long’ position on my WTI Crude Oil 15-min chart, it’s a Master-The-Trend Strategy-A set-up with a 15 pip stop loss.

11:45pm    Just seen my WTI position has been stopped out at -15 pips.

14:10pm     Now in another Master-The-Trend position, it’s a Strategy-B set-up this time – on the 30-min FTSE-100 chart. My stop loss is 13 pips.

15:45pm     Having to switch my laptop off now for a while so I have closed my FTSE position off as it currently oscillating around the 7500 level and may go higher.  My score has come out at +34 pips giving me total for the day of +19 pips.  I will send out chart screenshots later to customers so they can see full details of the trade.