Trading Diary & Market Update ~ Wednesday 6th November 2013
09:35am ~ After quite a late night out, I’ve had a lie-in this morning and I’ve just got down here to the study and switched on my laptops & desktop computers. I’ve some emailing to do plus two Skype calls with a budding students in Melbourne & Johannesburg. I’ll watch some charts as well and fit in a cycle ride at some stage before lunchtime.
Although the U.S. markets ended down last night, overnight futures markets staged a small rally for some reason so European markets may be on the bullish side this morning, although with the Non Farm Payrolls numbers out at the end of the week we may see trading in a range for the next few days. Brent Oil suffered more bearish activity yesterday as U.S. oil inventories continue to show a glut together with the European Commission’s cut in growth forecast meaning demand is lower than was expected. Gold has been dropping now for 6 trading sessions but has seemed to have rested at a support level of $1305 so we may see a small bullish movement over the next few days – keep an eye on the chart.
11:50am ~ There’s not much happening on my charts this morning so I’m off for a cycle ride at midday followed by some lunch at the Lord Nelson. This afternoon I’m off for some shooting practice with my youngest son but should be back to trade my evening system.
19:10pm ~ We’ve just got in so I’m switching my MT4 chart on to see if there’s any trading opportunities in the last part of the evening session – report back later.
21:00pm ~ I did end up with a long trade on the S&P500 which I got into at 7:30 and I came out a few minutes ago with my normal 20 pips.
Daily Target Reached ? YES (+20 pips) I traded the morning session plus a few hours this evening