08:50am (7:50 UK time) ~  Quite a restful day for me today, I shall be here in the study this morning doing some emails and Skype calls plus chart watching from time to time I will report back here if I get into any positions.

Gold has had an interesting journey lately, it has been in a bearish trend since the 11th July which coincided with a brief surge in the S&P 500 index but once equity markets took a tumble around the 24th of July everyone expected the precious metal to rise in value as traders move away from more risky investments. Last week it bounced off a previous support/resistance level at $1280 even though its biggest market in Asia has seen a drop in demand this year – and on Friday it formed a reversal candle on the daily chart so it looks as though it is heading back towards last week’s support line which coincides with renewed confidence in equities as the U.S. moves into the airspace above Iraq to stem the ISIS advances and the apparent de-escalation of Russia’s invasion hopes in Ukraine.  This good news helped European markets finish largely ahead by the end of yesterday’s trading session although NATO has poured cold water over any optimism regarding Ukraine, warning that Putin may well try to invade the country by the back door under the guise of humanitarian help.

Crude Oil supply data from the U.S. will be watched closely today by commodity traders, WTI has formed a bearish reversal candle yesterday on its daily chart and has already opened down this morning at just above $97 and there does not seem any support close by so movement down $95 does seem possible as the U.S. ‘driving-season’ is coming to a close soon.

Market Close Monday 11th Aug. 2014:  Dow Jones 30  +16.05 @ 16,569.98  S&P 500  +5.33 @ 1,936.92  FTSE 100  +65.46 @ 6,632.82  DAX 30  +171.42 @ 9,180.74  CAC 40  +49.89 @ 4,197.40

08:55am  ~  Look as though there maybe a UTB trade setting up on my Dax 30 chart.

09:05am  ~  I am now in a ‘short’ position on the Dax with a 16 pip stop loss.

10:45am  ~  The trade is going ok and is in profit but is coming up against a new support level at 9130 so I’ll watch that with interest.

12:55pm  ~  Still in the market although not much movement.

14:35pm  ~  Time for lunch out in town so I have closed off my Dax position, I have managed a profit of +48 pips.

17:45pm  ~  I’ve been back home for an hour or so but not switched my charts on yet – but I have got an hour or so before I go out so I shall have a look at my S&P500 chart and see if any ‘Trade With A Day Job’ set-ups appear.

18:15pm  ~  The S&P price reversed a short while ago and I am now in a ‘long trade with an acceptable 21 pip stop loss.

18:50pm  ~  Well – that was a quick in and out — I have exited the position with a +35 pip profit, giving me a total today of +93 pips.

Daily Target  +20 pips

Pips Achieved  +93 pips