07:25am   Just emailed my daily ‘Trading-Guidance’ sheet to subscribers and I’m now off for a cycle ride with a neighbour – back in an hour or so.

Market Update:

All eyes are on Europe at the moment as traders expect some news on the Greek debt repayment negotiations at some time during today’s trading session. Prime Minister Alexis Tsipras has been making confident announcements over the past few days but the same confidence has not been seen from the ECB or the country’s other lenders. There is an European Central bank meeting this morning so look out for some sort of announcement at their press conference at UK lunchtime.  The U.S. markets were mainly influenced by European worries and failed to make any headway yesterday and the main Dow Jones 30 index is now sitting just above the significant 18,000 level after finishing the day down by 24 pips.

In the crude oil market there were rumours around some trading floors that U.S. inventories are slightly down this week and this helped WTI Crude surge forward by 85 cents to end the day at $61:04 and the daily charts looks like a move to $62 is on the cards in the short term.

Trading Diary:

08:55  Just back from cycle ride and I can see a possible UTB setting up on both the Brent Crude and WTI Crude charts.

09:15am  I have gone with the Brent chart and I am now in a ‘long’ position with a 22 pip stop loss.

09:25am   If the WTI Crude price drops below $60:55 in the next 15 minutes or so it will trigger a ‘short’ trendFX trade.

09:50am    Just looked at my MT4 screen and noticed my Brent trade has just been stopped out at -22 pips but I am in the WTI position with a 30 pip stop loss.

12:10pm   Out of my 2nd position with a +62 pip profit.