08:30am   Quiet day at home and my last day of trading this week – any trades I may have will be reported below.

Market Update:

European equity markets have started today’s session on a bearish note after U.S. indices fell yesterday and the overnight Asian markets ended largely down although the Japanese Nikkei 225 index did manage to post a slight gain of +0.41% at the close. The drop in U.S. equities was surprising given that oil prices staged a surge upwards following better than expected oil stock numbers yesterday although the effect of Saudi Arabia’s decision to increase oil production must start to weigh on prices very soon.

The S&P 500 is now starting to look slightly bearish and over the past week has failed several times to climb over the 2082 level and the daily chart is suggesting further falls towards the end of this trading week. Surprisingly given the weakness in equity markets, Gold has also had a fairly negative week although the price on the daily chart is oversold and looking a bit more bullish this morning.

Trading Diary:

10:40am  European equity markets have fairly quickly recovered from their bearish start today and most are rising at the moment  - I am currently watching the German Dax-30 index to see if it rises above 10,022 in the next 30 minutes or so. If it does manage to do this I will enter a ‘long’ trend FX strategy strategy-3 position.

10:55am   I am now in the above position with a 29 pip stop loss – fairly average for a trade on an equity index 15min chart.

12:25am   An invitation from some fellow traders has been text across to meet for lunch in 5 minutes so I have now closed off my Dax-30 trade as I am more than content with the +50 pip score.

17:55pm   No further trades to report as we’ve enjoyed the sun on the beach all afternoon.

Back trading on Tuesday — wishing you a relaxing weekend break.