09:45am   Very ‘relaxed’ start to my trading day after an extremely late night out – but I will be doing some chart watching this morning ahead of a long weekend break away – any trades I have will be reported below.

Back here on Tuesday morning – hope you have a relaxing weekend break !

Market Update:

The bullish momentum caused by the FOMC decision to raise U.S. rates is slowing slightly and all the main U.S. indices closed in the red last night due mainly to falling health related stocks after President Trump announced some new spending cuts in the sector. The S&P-500 has failed to reach last week’s highs and now looks to be heading back towards its 20-day moving average although the overnight Asian trading session finished mixed with the Hang Seng index staging a late rally to finish ahead but Japanese and the main Chinese equity markets were slightly down at the close.

European markets are opening flat this morning as traders start to adjust their positions ahead of the weekend break and oil markets are holding steady as after large falls. WTI Crude has been trading around its 200-day moving average for most of the week and is looking as though we could see further falls from $49.00 level towards Tuesday’s low of $47.00.

Gold has enjoyed a small rise on U.S. Dollar weakness after the Fed announced they were not increasing the pace of monetary tightening. It’s now sitting at $1228.70 up from last Friday’s low of $1195 but it has stalled in the past 24hrs as it touched its 200-day moving average.

Trading Diary:

10:55am   I have just entered a ‘long’ position on my WTI Crude 15-min chart, it’s a Master-The-Trend Strategy-B set-up with a 19 pip stop loss.

13:20pm   Just got back from an early lunch and seen my WTI trade has been stopped out at-19 pips.

16:55pm    Unusually for a Friday afternoon, I have been here in my home office catching up on emails and Skype calls and while sitting at my desk I have also been watching my charts.  I have noticed there has been a distinct lack of trade set-ups so I have been looking further afield and I have just entered a ‘long’ position on my  NZD/USD 1-hr chart, it’s a Master-The-Trend Strategy-A set-up with a 14 pip stop loss.

18:20pm      The NZD/USD has risen quite well but as I am off for the weekend very soon I have just closed off my position at +23 pips, giving me a total for the day of +4 pips but a running total for this week of +95 pips and +393 pips so far for March 2017.

Have a great weekend and I will be back trading on Tuesday morning.