07:40am  Spending most of the day here at home so I’ll report any trades here as they occur.

Market Update:

Overnight the Japanese market was fairly positive on the back of a good finish in the U.S. last night and a calm Chinese session as well. I would anticipate today’s indices will be quite subdued ahead of the U.S. Federal Reserve interest rate decision tonight at 19:00hrs UK time. There was a firm rally in America early on Wednesday’s trading session as the expectation of a rate rise is not really on the cards for many traders although the S&P 500 futures market has been quite subdued for the last 8 hours in readiness for a reaction one way or the other tonight.

Wednesday is U.S. Crude Oil stock numbers and yesterday’s numbers surprised many traders as it fell by over 2 million barrels against an expectation of a small rise which is often the case as autumn arrives – this announcement caused WTI Crude to rise over $2 to end the day at $47:15 although it has fallen back slightly during the overnight Asian session and is hovering around the 50 moving average on the daily chart.

Trading Diary:

08:50am    Just had a quick scan of my charts and there’s not much happening so I am off for a cycle ride for a couple of hours.

13:05pm   Got back here at 11am and I’ve had friends around since then so no chart watching or trades to report ! Off to the Lord Nelson for lunch now.

15:00pm   Been back here in the study for 10 minutes and the only thing I can see on my group of favourite charts is a possible UTB ‘short’ on Brent Crude.

15:15pm    The Brent price has dropped sufficiently to trigger the UTB position – my stop loss is 36 pips.

16:05pm     The price has come down quite nicely and I’m happy with the +45 pip profit so I am now out of my only position of the day so far.