09:05am   After an ‘impromptu’ day-off yesterday I am back in front of my charts today  -  trades I have will be detailed below and I am already in a ‘short’ trade at the moment – scroll down for details.

Market Update:

The markets are being lead by latest polls for the U.S. election which a small lead for Donald Trump and this is bad news as markets do not like the uncertainty that will come with Mr Trump leading the most powerful country in the world.  U.S. equities started the fall yesterday with the S&P-500 down by 14 points at the end of its session last night and overnight Asian session carried on the bearish momentum and ended mainly down with the Hang Seng Index leading the losses at -337 points.

European equities have reacted in a similiar direction at the open a short while ago although losses are being paired back slightly as traders embark on some bargain hunting after the first hour of trading. Figures out of the UK look ok this morning with house builders fairly upbeat as the construction PMI number came in better than expected.

Gold is back in fashion as investors look for a safe haven ahead of the uncertainty surrounding the U.S. election, it has risen this week close the important $1300 level so watch for some trading opportunities as the price approaches this point. Crude Oil prices are falling for a 4th day in a row as concerns over a growing worldwide stockpile emerge ahead of this afternoon’s U.S. Crude Oil Inventories number – I am currently taking advantage of this bearish price action with a ‘short’ trade on Brent Crude.

Trading Diary:

09:10am   Entered a ‘short’ Brent Crude position a while ago – it’s a trendFX strategy-1 pattern with a 21 pip stop loss.

10:50am   Just been invited out on a cycle ride so I have closed off my Brent Crude trade at +44 pips.

11:50am  Back now and just entered a ‘long’ position on my GOLD 30 minute chart – it is another trendFX strategy-1 pattern with a 23 pip stop loss this time.

12:30pm  I am now going for an early lunch with some fellow traders so I have now closed off the GOLD position with a +26 pip profit, the price came within a whisker of the $1300 support/resistance level a few minutes ago so happy with the trade’s score.