07:50am   Nice quiet day at home today catching up on emails etc. so any trades I do have will be detailed below.

Market Update:

The U.S. market closed mainly up last night on rising oil values and better than expected earnings reports – Goldman Sachs standing out amongst the 13 companies reporting results yesterday and the Beige Book announcement was broadly in line with expectations so there’s no real ‘new news’ regarding the Federal Reserve’s decision on interest rates at some stage this year although betting is still concentrated on December.

Crude oil values rose well yesterday after the weekly U.S. Crude Inventories figures showed a surprising draw of over 5 million barrels as we go into the high-demand winter season.  WTI Crude futures rose just over 2.5% during Wednesday’s session to close at $51:60 although there has been some consolidation and profit-taking overnight and the price is currently sitting at $51:39.

Asian markets overnight were generally bullish after the positive U.S. close but European markets are mixed this morning as we have a fair amount of economic news out during the day including the European Central Bank’s interest rate decision and subsequent press conference.

Trading Diary:

09:30am    There is the possibility of a ‘short’ trade developing on the WTI Crude chart if the price falls below $51:27 in the next 30 minutes or so.

09:55am    A trendFX  Strategy-3 position has just been triggered as the price fallen below the required level — my stop loss is 23 pips.

11:10am   Not much happening on my charts since the WTI Crude trade triggered so I am off for a cycle ride.

12:55pm    Been invited out for a game of golf shortly so I have just closed off my WTI position, it has achieved +26 pips. I will not be back home now until early evening so that’s it for trading today – and this week as I am out sailing all day tomorrow.

I hope you have a nice, relaxing weekend.