07:10am  Lazy morning at home before flying off for an Easter break this afternoon – back on Wednesday. If I have any trades this morning they will be reported below.

Market Update:

The overnight Asian trading session was pretty pessimistic and that sentiment looks to influence the start of the European session on this last trading day of the week ahead of the Easter break. The Oil price looks to be weakening which is dragging down equities once again, my Brent Crude daily chart has produced a strong reversal signal a few days ago at $42:50 and has retreated from that level over the last few days (if you’d like to see this signal marked on my chart just email me)  The U.S. WTI Crude is also in decline after a high stock level report on Wednesday, it reached a high of $41:85 on Tuesday before reversing.

Equity trading volumes in Europe and the U.S. is expected to be low ahead of the Easter weekend although there is some economic news out later today which will move the markets slightly – details here

Trading Diary:

08:25am   While I was compiling my daily ‘Trading-Guidance’ sheet a couple of hours ago there were no opportunities on my favourite charts but I’ve just come back to my desk to have a quick look before I go out for a cycle ride and I can see a possible ‘short’ trade setting up on my Brent Crude chart.

08:40am   The Brent Crude price has dropped sufficiently to trigger a trendFX ‘short’ position. My stop loss is 22 pips.

09:05am   Going for cycle ride with neighbour for a couple of hours along the coastal path to Dunwich, my stop loss on my Brent position is still at 22 pips but I’ve left the target open as the price looks to be quite bearish.

11:15am   Back home and my trade is doing ok so I have brought my stop loss upto break even.

11:55am    The Brent Crude price seems to have reached a low point and is not going much further down for the time being so I have come out of my position at +54 pips.

12:20pm   That’s it for trading today and the week, I shall be back in front of my charts on Wednesday. I hope you have a nice relaxing long weekend break.