10:55am (CET)  ~  A lazy start to the day after a very late last night in ‘Stay’ restaurant last night. It’s a bit overcast so my plan is to stay around the house this morning and also watch a few charts – a couple of other guests here this week are showing some interest in trading so I’m going to give them some pointers. First I’m going to cook breakfast with some fresh eggs from the farm.

The markets yesterday are still marching upwards even though the bad news from the U.S. is continuing – it would seem that adverse economic data will persuade the Fed to postpone their tapering of economic stimulus, and that in turn is good for the markets. So bad news is good news it would seem – confused ? Adding to this confusion is the fact that any bearish traders are now wondering whether they are missing out on this push upwards, so are gradually abandoning their pessimistic views and joining in on the buying spree.  Weak economic data in the U.S. has put pressure on perceived Crude Oil demand, so WTI Crude weakened slightly yesterday and we’ve got the weekly inventories report later today which will probably show another rise which will put further pressure on prices.  A rebound in the U.S. Dollar put downside pressure on the Gold price and it ended around $8 down on the day, although it’s still above the 50 period moving average and in a bullish trend.

11:30am (CET)  ~  I am in a ‘long’ position on my Gold chart it is a trendFX strategy 3 pattern set-up.

12:35pm (CET)  ~  And now I’ve got myself into a short position on my S&P500 chart, much to the amusement of a couple other guests that are staying here (Julie & Anne) My Gold position has been up and down in the last hour and is now sitting at break-even.

15:40pm (CET)  ~  My ‘long’ Gold trade started slowing down slightly and it’s well above my daily target so I’m now out of the market. It achieved +60 pips. The S&P trade is still trundling downwards I am pleased to report.

17:00pm (CET)  ~  Well, it’s that time of the day again, the start of my “Trade With A Day Job” strategy so I’m staying on front of my laptop for a while. Tonight’s session will be shorter than normal though as we have the Fed statement out in an hour, the U.S. market usually react with a certain amount of volatility so if I do have a trade soon I will be out before 7pm (6pm UK time)

18:50pm (CET)  ~  I did get into a “Trade With A Day Job” position just after 6pm but time is getting close to the Federal Reserve announcement so I’m out of that one plus I have also closed off my other S&P trade I mentioned earlier.  The results are +102 pips and +30 pips and I’m now going to send students the screenshots for their own revision, and then I believe we’re off into Puerto Pollensa for the evening.

Daily Target Reached ?  YES  (+192 pips)           I have traded on and off most of the day