09:25am   Slightly later start to my trading day as I’ve got the builders in at the moment – any trades I do have will be detailed below.

Market Update:

While I’ve been away from my screens, global equity markets have been on the whole quite bullish with Asian stocks closing up earlier this morning after an encouraging session yesterday in the U.S.  The initial worries last week over the Trump presidential win seems to have turned to considered optimism with U.S. equity markets still around recent highs – the S&P-500 had another bullish day on Tuesday and it finished up 16 points (+0.75%).   This morning’s European trading session has not followed this bullish sentiment and most markets are trading slightly down in the last hour.

Oil has suffered large price falls in the past month but its fortune was reversed on Monday when WTI Crude staged a bullish reversal from the $43 minor support level on hopes that OPEC are close to an agreement amongst members for a production cut. This morning’s daily chart shows a slight decline as early reports show that U.S. stocks have climbed over the past week, we will get confirmation later today when U.S. Crude Oil Inventories are released.

Trading Diary:

10:40am   Just entered a ‘short’ position on my WTI Crude Oil chart – it’s a trendFX strategy-1 pattern and my stop loss is 20 pips, about average for the 15min timeframe.

12:00 midday   Off to lunch soon after I’ve helped the builders out briefly so I have just closed off my WTI Crude position – the price has just hit the $45:00 level and bounced up slightly so I am out at $45:03 giving me a profit of +32 pips.

16:05pm    Been back for an hour or so but no opportunities on my collection of favourite charts so I am calling it day and returning to the screens tomorrow morning.