Trading Diary & Market Update ~ Thursday 27th March 2014

07:20am  ~  As you may have seen I did get back to some trading last night, and this morning I shall also be in front of my charts for a while after a cycle ride over to Walberswick.  I will report back later if there’s any trades on offer.

European equities are set to open lower as they will be dragged down by overnight losses in the US. Concerns that the tech sector has pumped itself up into a bubble again were highlighted by a less than enthusiastic debut of King Digital. In a sign that there is some sanity left in investors, King Digital, the maker of the Candy-Crush game, slid 15% shaving around $1 billion off its inflated IPO valuation of $7 billion.  Adding to overnight woes, warnings by the US President Barack Obama that the conflict in Ukraine might escalate pushed the equities firmly down yesterday leaving the Dow Jones 30 down 91 points at 16281 after it hit a short term resistance level earlier in the trading session. In addition to that, the durable goods numbers were less than the estimates which accelerated the move downwards.

Gold prices tested the psychologically important $1300 support level and briefly crossed below it but bargain hunters pushed the market price back up but still the session ended $6 down at just over $1305

10:15am  ~  Been back for 30 minutes and not much happening on the 3 charts I usually watch but it does look like there maybe an opportunity on Brent Oil if the price retraces slightly and then gets moving upwards.

11:10am  ~  The Brent price behaved itself and I’m now in a ‘long’ position with a 17 pip stop loss. It is a strategy 3 set-up from my trendFX manual

13:20pm  ~  I am off out for lunch now at the Lord Nelson so I’ve brought my stop up on the Brent trade to protect some profits.

16:35pm  ~  The Brent position is still trundling away quite happily although it has lost some of its initial enthusiasm – I am currently running at +30 pips.

17:15pm  ~  I am now also in a ‘short’ on the S&P500 with my evening “Trade With A Day Job” system with a 16 pip stop loss.

18:20pm  ~  Out of the S&P trade – a quick 45 pip profit.  My Brent position is looking very unexciting at the moment, there’s not been much movement lately although there does seem to be a support level around 107.40 and there’s been a quick but slight move up.  I shall wait a bit longer but we are going out for the evening shortly so this trade is not long for this world.

18:45pm  ~  Eventually I have called time on my Brent trade, I have managed +52 pips.

 

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