08:15am  In and out of the house for most of the day with various ‘errands’ but any trades I have will be reported below.

Market Update:

Tuesday’s trading session ended on an upbeat sentiment last night with both U.S. indices posting above 1% gains with the rise on the oil price being the main reason for this optimism.  Material, energy and industrial sectors all helped the S&P-500 rise by nearly 26 points at the close and U.S Dollar strength again the Japanese Yen also helped – this forex pair has risen quite well over the past few days after it reversed at the significant 105.50 level at the beginning of May.

The overnight Asian trading session ended mixed with no adverse news or economic announcements to guide the markets and the falling oil price did not affect sentiment either although we may see more effect today as news that Saudi Arabia is now ramping up their own crude oil production.

Gold is looking bullish once again on the daily chart where the price staged a bullish reversal off the 20-day moving average yesterday and if equity markets do head south for the rest of this week we should see a move back upto the $1300 level that we witnessed at the beginning of this month.

Trading Diary:

08:25am   Nothing much to see on my charts at the moment as the European trading session gets underway so I am off out for a short while.

11:55am  I have been in and out of the house all morning so not had much time to look at my usual charts, maybe more luck when I get back from lunch around 2:30pm

15:10am   Just got into a trade.  The markets have been moving unusually today for a reason I’ve not yet fathomed but a few minutes ago I stumbled onto a ‘short’ UTB opportunity on my Gold chart that was just about to trigger so I am now in that trade with a 28 pip stop loss.

17:15pm    Still in my Gold trade, it’s currently sitting at +26 pips.  My 15min chart still looks quite bearish so I shall stay to see if I can get slightly more than the minimum target at 28 pips.

18:20pm     The Gold price has fallen quite well over the last 30 minutes but now it looks like it is on its way up for a while so I’ve just closed my trade off at +32 pips.