07:45am   After a busy time yesterday I am having a relaxing day at home so any trades I have will be reported here through the day.

Market Update:

The overnight Asian session was fairly negative after Chinese Trade Balance figures came in better than expected but when you look behind the numbers you can see that exports declined another 3.7% and imports fell over 20% which the eleventh straight fall. This disappointing news caused the Shanghai Composite to end the session just 11 points down although the Hang Seng and Nikkei 225 did fair worse.  This bearish sentiment has transferred over here to Europe this morning in the form of a fairly subdued start to today’s trading with both the FTSE 100 and Dax 30 opening very slightly down.

The U.S. session was quite slow yesterday due to the Columbus Day Bank Holiday, the S&P 500 finished just 2 points up on Friday’s close but overall the daily chart looks quite bullish and has been since the reversal candle on the 29th September. This week sees some big bank earning’s reports so we may see a third week of advances in the main U.S. index of the top 500 companies.  Gold is continuing its rise from the $1100 level of September and yesterday’s positive session reflects the concern traders and investors have over the slowing world economy together with increased tensions in Syria – although the price on the daily chart did reverse at the 200 day moving average so today’s trading could be interesting.

Trading Diary:

08:00am   If the price on the German Dax 30 drops below 10,077 in the next hour or so there will be a bearish UTB trade.

08:15am   Now in the ‘short’ UTB position – as it is on the 4hr chart my stop loss is slightly higher than normal at 60 pips.

09:25am   The German ZEW Economic Sentiment announcement is out soon and I’m happy with the score on my Dax trade so I am out now. The profit has come in at +107 pips.

09:40am   A neighbour who’s well over 90 years old has just arrived for a cycle ride so I am now closing my charts and venturing out into the sunshine.

12:25pm   Been back home for the last hour but nothing much happening on my charts so I’m off out for lunch.

14:00pm    Possible trendFX trade setting up on my Gold chart.

14:10pm    The Gold price has moved up sufficiently to trigger a ‘long’ position using strategy-3 from the trendFX manual, my stop loss is 32 pips.

16:55pm    Happy with a small profit out of my Gold position, now out with +45 pips giving me +152 pips for the day.