07:15am  Just emailed my daily ‘Trading-Guidance’ sheet to subscribers and for the rest of the morning I shall be here in the study catching up on emails and doing some chart watching.

Market Update:

The global rally that seemed quite strong yesterday has now faded as Asian stocks suffered losses overnight which has spilled over to European equities on the open today.  China’s Shanghai Composite was the night’s biggest loser although Japanese and Australian equities were not far behind and so far this morning a sea of red numbers covers European markets  plus U.S. equity futures as well.

WTI Crude oil has staged a small rally over the last two sessions on hopes of cut in U.S. production levels but worries over Iran’s  post sanction increase in export has put a lid on any optimism, the index is down 60 cents in early morning trading with UK Brent Crude largely following suit.

In the currency market the British Pound suffered losses during yesterday’s session due to worries over a UK exit from the EU, it appears that London Mayor Boris Johnson’s exit stance has raised worries that a referendum vote in June could be tight and Britain leaving the European Union is now a real threat.

Trading Diary:

09:10am   There’s a possible ‘long’ trade on my WTI Crude chart, I’ll keep an eye on the screen as the next candle forms.

09:20am  A trade has triggered as the WTI price has just risen above $32:66 and my stop loss is 19 pips.  It is a ‘long’ UTB position on the 15min chart.

09:35am    Neighbour just arrived for a quick cycle ride so leaving trade as it is with stop loss level but no target yet, not sure how high the price may go.

10:30am   Just back and my trade is at -10 pips, it’s not really gone anywhere yet so I’ll have another look in 30 minutes or so – I have a couple of Skype calls now with new traders.

11:25am   Just finished a long Skype call and seen my trade is at +59 pips but I’ll hang on for a bit longer and see how far it goes up.

12:40pm    Off out to lunch with three fellow traders so I have now closed off my WTI position, it has managed +70 pips.

15:35pm   Possible short trade now on my Brent Crude  chart, just waiting t0 see if the price drops below $33.63.   There is the same opportunity on the WTI Crude chart but I’ll watch the UK oil one instead.

15:55pm    I am now in the above mentioned position on my Brent Crude Oil chart.   It’s a trendFX strategy-3 set-up and my stop loss is 48 pips.

18:50pm   I have a meeting with the builders in a minute in the pub so I’ve closed my Brent Crude trade off even though it’s not quite reached its target, it is very close and I am unwilling to let it run while I’m out on case it reverses back up without reaching its 48 pip target.   It has managed +45 pips, so +115 pips for the day.

23:40pm  ——   Just been invited to a clay pigeon shoot in Norfolk tomorrow so will be back trading on Thursday (25th)