07:50am   At home today doing odd bits of DIY, catching up on emails and finishing off the new system manual – but also some chart watching inbetween so any trades I take will be detailed below.

Market Update:

Equity markets are very bullish at the moment, U.S. indices had another record day on Wednesday and the overnight Asian session followed on in the same vein with the Japanese Nikkei-225 coming out as the best performer at +1.45% and rising to its highest level in the past 11 months despite the high value of the Yen.  Hopes that the European Central Bank will announce some sort of stimulus at its meeting today is partly fuelling the optimism in the markets and today is also the last chance for a rate move this year, ahead of the U.S. Federal Reserve’s decision next Wednesday.

Ahead of the ECB announcement in a few hours, most European bourses have opened in negative territory (except for the MIB-30 as Italy has a Bank Holiday) and will possibly trade sideways until we know what’s in President Mario Draghi speech – the consensus seems to be that interest rates will be help at 0%.

The bearish momentum that Gold has endured since the summer is once again slowing as investors ‘bargain-hunt’ around the $1160/$1170 level, it had a fairly bullish session yesterday and closed up +$4.60 last night at $1174 and is around the same level at the moment.

Trading Diary:

08:35am    There is the possibility of a UTB price reversal pattern forming on my FTSE-100 chart in the next 15 minutes so I will keep you informed of developments, not much else to see on my favourite charts.

08:50am   I am now in a ‘long’ UTB position on the FTSE-100, my stop loss is 14 pips.

09:15am   Well that was a quick trade ! Stopped out at -14 pips.

09:30am    Nothing else on my charts at the moment and some fresh air/exercise is required so cycle time for me..

10:40am   Just entered a ‘long’ trendFX strategy-3 position on my WTI Crude Oil chart (15-min) and my stop loss is 20 pips.

11:25am   Playing it safe with this latest trade after my loss earlier, I have come out of the position at + 20 pips a few minutes ago as the price has touched a small resistance level.

12:30pm    Lunch out now and then an unexpected game of golf this afternoon.  No further trades to report.