07:55am   Back home after a short break and I was envisioning doing some chart watching this morning but I now have an unexpected planning meeting until 2pm. I will be back at home this afternoon so if I do have any trades they will be reported below.

Market Update:

U.S. equity markets closed yesterday slightly higher on lower volumes in the run-up to the Christmas holidays and the tech-heavy Nasdaq hit another all-time high although profit-taking did cause the index to close slightly off this level. The overnight Asian market was also fairly bullish although China and Hong Kong indices were slightly down as capital outflows weighed on stocks and the European session open has surprised many by appearing bullish as bourses start today’s trading session despite attacks that are thought to be terrorist-related in Turkey and Germany in the past 24hrs.

Oil traders seem to have taken an early holiday as volumes in the crude market have taken a hit at the start of this week, U.S. WTI Crude did move much at all through Monday’s session, it closed at $52:12, down 3 cents on the day after a $1:02 trading range. The daily chart is now suggesting perhaps a small up move towards the Christmas holiday break. Gold has had a few days respite from the bearish move that’s been prevalent since the beginning of November although this morning’s price action suggests another move down towards the $1122 level, currently at $1132.27.

Trading Diary:

16:45pm    I’ve not been indoors long and the only excitement I have seen in the past 15 minutes was a fairly standard UTB price-reversal pattern on my UK Brent Crude Oil chart. The price dropped below $55:63 a few moments ago so I am now in a ‘short’ position with a 31 pip stop loss which is about average risk for a 30-min chart.

17:40pm   Quick trade !  Price came down nicely but it has now started retreating back upwards so I am now out with a +32 pip profit.