08:20am   Back after a 3-day break away, I shall be mainly be here at home today catching up on emails and doing some chart watching.

Market Update:

U.S. markets had a mixed trading session yesterday on low volumes ahead of a two day meeting to decide on interest rates, the broad  S&P-500 index finished slightly down and the Dow Jones index of top 30 companies ended just 0.09% up at 17,229. Overnight the Asian equity markets had a mainly bearish session with Sydney’s ASX-200 index falling the most (-1.41%) and others coming in down ahead of the Fed decision.

European stocks have opened this morning with a slightly bearish sentiment as traders weigh up the Crude Oil price which now seems to have hit a small resistance level and the rise we’ve seen in the last month has now come to a temporary halt as Iran are refusing to join in with other major producers and come to some agreement over production levels – they have a lot of catching up to do so want to pump out as much as possible.

Gold is down for a third day in a row despite no great advances in equities, although the price does seem to have found some minor support at its 20-day moving average on the daily chart.

Trading Diary:

09:25am    Just waiting to see if the WTI Crude price drops below $36:31, if it does it will trigger a ‘short’  trendFX trade.

09:35am   The WTI price has dropped sufficiently so I am now in a ‘short’ position with a 19 pip stop loss. It’s a trendFX strategy-1 set-up.

09:50am    My WTI trade is coming along ok so I’m leaving it running and going off for a cycle ride with a neighbour, back in an hour or so.

11:55am   Just checked my charts and seen that my WTI position has been stopped out at -19 pips.

14:35pm   Just returned from a quick lunch out and there’s nothing much to see on my charts so I am calling it a day – laptop off now.