08:20am  After an unusual week away from my screens things are back to normal at last and my plan is to be at trading at home for the next three days ahead of another family wedding on Friday.  Any trades I take today will be detailed in my Trading Diary below.

Market Update:

Market volatility is still prevalent across most regions and U.S. equities ended last week in the red after the Dow Jones 30 index fell 572 points on Friday to close at 23,932.67 (-2.34%) and the S&P-500 and Nasdaq finished down by similiar percentages on continuing trade war concerns. News from the White House emerged late in the week that President Trump had asked the United States Trade Representative to consider a further $100 billion in additional tariffs against China and this prompted an equally strong response from China’s Commerce Ministry.

The start to this week’s Asian trading session was surprisingly mixed as many traders shrugged off the negative war of words at the end of last week, the Japanese Nikkei-225 index closed up by 0.51% at 21,678.26 after a muted start to the day and the South Korean Kospi and both Chinese indices closed in positive territory. Even Australia’s ASX-200 managed a good finish although it was dragged down slightly by the energy sector. U.S. equity futures overnight are also pointing towards a positive open but much could happen in the next few hours.

Gold would normally be expected to thrive in these times of uncertainty as traders look for some safety and although it rose $4.20 on Friday to close at $1331.10 it has fallen during the overnight Asian trading session and is now at $1329.45 but a small support area around $1320 should limit losses this week. Oil prices are holding fairly steady this morning after losses on Friday caused by U.S./China trade war worries but supply concerns this morning over the Syrian conflict have given a small boost to values, U.S. WTI Crude closed on Friday evening at $61.95 but is now at $62.33 and heading back upto the 50-day moving average.

Trading Diary:

11:25am     Nothing to report so far on my charts this morning

12:15pm   I have just taken a ‘short’ position on my GOLD 15-min chart, it’s a Master-The-Trend Strategy-A pattern with a 17 pip stop loss.

12:55pm    My GOLD position has been stopped out at -17 pips.   Off for some lunch now.

14:15pm   I am now in a ‘short’ position on my FTSE-100 15-min chart, it’s another Master-The-Trend Strategy-A pattern and the stop loss this time is 11 pips.

14:50pm   Just taken a quick +15 pip profit amid a fair amount of volatility that’s usual for this time of the day (U.S. trading session open)

 15:20pm   I have been invited out on a cycle ride now so switching off my charts for the day, back at usual time tomorrow morning.

08:45am   This is my last day in front of my charts before a short holiday over the Easter break, I will be watching my screens this morning and any trades I take will be detailed below in my Trading Diary. I’ll be back trading next Wednesday (4th April) and I hope you have a nice relaxing long weekend break.

Also watch out for my announcement over the weekend for this month’s edition of the Trading-Education eBook.

Market Update:

U.S. markets are still being dragged down by tech stocks, Facebook is still under pressure and as a result the Nasdaq fell 1% last night with the Dow Jones and S&P-500 also closing in negative territory. With money pouring out of equities, Government bonds are once again popular as are other safe haven products although Gold is still suffering, it closed down $20.20 at $1324.70 but the fall is slowing this morning as bargain hunters have come in a propped up the price – currently at $1324.85.

The overnight Asian trading session ended mixed after the negative U.S. showing earlier in the day. Initially most indices in the region were down although by the close both Chinese markets ended up and the Japanese Nikkei-225 and South Korean Kospi were the best performers of the night at +0.70%. The Australian ASX-200 closed down 30 points at 5759.40 as material and Gold producers suffered.

Oil markets had  volatile session on Wednesday and initially fell although there was a correction later in the day which seems to be continuing this morning as the OPEC agreement to curb production now seems to be extending into 2019 if Russia can be persuaded to toe the line. U.S. WTI Crude fell $1.15 yesterday to close at $63.61 and is up at $64.55 this morning so far and heading for the $65.00 level soon.

Trading Diary:

12:55pm   It’s been quite quiet on my charts this morning but I have just taken a ‘long’ position on the German DAX-30 15-min chart. It is a Master-The-Trend Strategy-A set-up and my stop loss is 21 pips.

14:00pm  Just taken a quick +48 pip profit on my DAX trade as I am off soon.  Back next Wednesday – I hope you have a nice relaxing Easter break.

08:55am  I have awarded myself a days holiday so no chart watching today, not sure about tomorrow – I will report back later.

Market Update:

After markets rising on Monday they have reversed once again as traders exaggerate another minor concern, this time the tech sector was under pressure after Bank Of America Merrill Lynch cut their price target for Facebook again after the data scandal that’s engulfing the social network company.  Self driving cars are also in the news for all the wrong reasons and this is also having an effect on various tech companies. The Dow Jones closed down 2.84% at 24,202.60 (-669.40) so wiped out  large majority of Monday’s gains.

The overnight Asian trading session was equally as bearish for largely the same reasons despite some good news out of China where the North Korean leader was on an official state visit, the first since he took power in 2011. He has stated that he wants a nuclear-free Korean peninsula in meetings with the Chinese leader yesterday but this news did not lift markets and all the major indices in the region close din negative territory.

Oil markets fell yesterday after the American Petroleum Institute reported a rise of 5.3 million barrels in crude oil stocks last week and this sent the price of U.S. WTI Crude down by 77 cents to $64.65, below the significant $65.00 level and it is down another 20 cents this morning.  There is some good news however as there seems to be some historic support around $64.00 so watch this level for some trading opportunities.  Gold fell yesterday by $8.80 to $1344.80 on a weaken Dollar caused by the looming U.S./Chinese trade war but this seems to be dissipating slightly which has strengthened the Dollar slightly and so stabilised the Gold price.

08:20am   Back in front of my charts today after a long-weekend break so any trades I find will be detailed in my Trading Diary below.

Market Update:

U.S. indices closed up on Monday with the Dow Jones posting its third largest points gain in history. It closed up 669 points at 24,202.60 (+2.84%) as concerns that a trade war with China may not be as serious as first thought after China has made the first conciliatory move by suggesting that they buy more semiconductors from the U.S. to help cut the trade surplus and there is also rumours that the two countries are talking about improving U.S. access to Chinese markets.

This sentiment also spilled over to the overnight Asian trading session, the Japanese Nikkei-225 index rose 2.29% by the close and the South Korean Kospi advanced by 0.67% despite Samsung closing in the red. Virtually all other indices in the region ended positively and there are also rumours that North Korea’s president is in China on a top secret visit which is seen as positive news for relations in the area.

European markets are opening largely positive this morning as trade war fears are beginning to ease and Gold is unexpectedly still rising despite money flowing into equities, it rose $5.40 by the close last night at $1353.20 anmd looks to be heading for the $1360 level in the next few days were it may well reverse.  Oil markets are seeing a surge in price this morning as continuing rumours that the U.S. is going to impose new sanctions on Iran have surfaced again. WTI Crude Oil fell slightly yesterday to close at $65.45 (-22 cents) but is up 20 cents this morning.

Trading Diary:

10:10am   Nothing to see so far on my list of favourite charts so I am for a run.

13:05pm   Just taken a ‘short’ position on my Gold 30-min chart, it’s a Master-The-Trend Strategy-B set-up and my stop loss is 34 pips.

13:15pm   I have taken a quick profit from the Gold trade, the price has hit the ‘large’ number of $1340 and reversed upwards as expected so I am out with a +37 pip profit.  Off for late lunch.

15:10pm  I’m back home but switching my charts off now as some friends have just popped in and I have a feeling it’s not a “5-minute visit”

08:50am   I’ve not been in front of my screens very much this week for various reasons so I thought I’d have a quiet day here in the office catching up on emails and Skype calls so I will have my charts up in front of me as well – any trades I take will be detailed below in my Trading Diary.

Market Update:

Global stock markets are reacting to President Trump’s latest action on trade tariffs, the U.S. Dow Jones 30 index fell 724 points by the close last night at 23,957.89 – its biggest one day fall for nearly 2 months and the futures this morning are further down at 23,839.56.  There is a concern over just how far the trade war between the U.S. and China is going to go but rising interest rates have also spooked investors as well this week. The broader S&P-500 index was also down on Thursday, it fell 68.24 to 2,643.69 slightly less in percentage terms than the Dow.

The Asian markets overnight carried on the negative sentiment, the Japanese Nikkei-225 index fell nearly 1,000 points and indices in China were down by around 3%. President Trump signed a memorandum that imposes tariffs on around $60 billion of imports from China so in answer to this, China has now listed 128 products from the U.S. that they will target with similiar tariffs in retaliation.  As is usual, the safe-haven Japanese Yen has risen on these concerns as has Gold which has risen $12.10 since the Asian trading session opened late last night European time, currently at $1341.10.

Oil prices are buoyant this morning after a statement from Saudi Arabia that the current production limits from OPEC and Russia need to be maintained well into 2019. WTI Crude experienced a negative day yesterday but is up 45 cents this morning at $64.65.

Trading Diary:

09:55am   Just taken a ‘short’ position on my WTI Crude 15-min chart, it’s a Master-The-Trend Strategy-B pattern with a 23 pip stop loss.

12:15pm    Well this is unusual.   I am still in the WTI ‘short’ position but I’ve had a signal for a ‘long on my Brent Crude 30-min chart so I’ve taken that as well, only one is going to come out ahead here !  The ‘long’ position is a Master-The-Reversal UTB pattern and my stop loss is 22 pips.

12:40pm  As expected, one position has been stopped out. It was the WTI trade at -23 pips.

15:05pm  Unusually I have been watching the Brent chart fairly closely and the price has become very volatile so I’ve closed the position off before it starts to tumble. I have managed a score of +98 pips, giving me a total of +75 pips for the day.

My score for the week has come in at +124 pips and so far this month I have amassed +401 pips.  Back in front of my charts next Tuesday.

08:50am   I am at home this morning watching my screens before a shopping trip to Cambridge after lunch so any trades I find will be detailed below in the Trading Diary.

Market Update:

European markets closed mainly lower yesterday afternoon as traders awaited the latest interest rate news from the U.S.  Later in the evening the Federal Reserve announced they were raising the minimum lending rate by 0.25% and this caused a fair amount of volatility in equity markets and at the close both the Dow Jones 30 and S&P-500  were down by around 0.20%. The FOMC economic forecast was upgraded and we are looking at 2  more rises this year with more for 2019 upto 2.9% if the economy stays on its current trajectory.

The overnight Asian session that has just come to a close was mixed as traders and investors digested new of the first U.S. rate rise this year. The Japanese Nikkei-225 was back after a bank holiday and rose almost 1% to finish at 24,591.99 (+211.02) and the South Korean Kospi jumped 0.44% to 2,496.02 to hit a 7-week high. Bothe the Hang Seng Index and the Australian ASX-200 were down by the close although only marginally after a volatile session.

Oil markets are on the rise after a surprisingly upbeat U.S. Crude Inventories report yesterday. They fell by 2.6 million barrels in the week ending 16th March to 428.31 million barrels and this was down mainly to a cut in imports by approximately half a million barrels per day.  The restraint in production shown by OPEC members and to a certain extent Russia as well is also having an effect. U.S. WTI Crude closed up $1.80 last night at $65.43 but is suffering from a bout of profit taking this morning and is currently sitting at $65.06.  As expected, the U.S. Dollar had a small blip on the interest rate forecast and this caused Gold to rise, it closed up by $21.30 at $1331.90 and is broadly at the same level now having gone mostly sideways during the overnight Asian session.

Trading Diary:

09:00am   Nothing on my collection of favourite charts so far this morning so I am off for a cycle ride.

12:40pm   Switching my charts off now as I am away soon for the rest of the day – no trades to report.

08:10am   I am back home now after a short break away for a family wedding – and I will be doing some chart watching today amongst other errands and visits. Any trades I take will be detailed below in my Trading Diary.

Market Update:

Markets are treading water to a certain extent this morning as traders await the U.S. Federal Reserve’s interest rate decision which is due out later today. There is a 95% expectations for a rise of 0.25% and the U.S. trading session on Tuesday closed ahead last night on this expectation.  The Dow Jones 30 index finished at 24,727.27 (+116.36) and the wider S&P-500 index closed slightly less at +4.02 points at 2,716.94 and although a rate hike is almost certain, market watchers are keen to see what the Fed is going to hint at with regard to rises for the rest of the year – three more seems to be on the cards but we will have to wait for the FOMC press conference at 18:30pm tonight (UK time)

The overnight Asian trading session ended mixed as traders await the aforementioned Fed rate decision, Chinese indices closed in negative territory, Japan was on holiday and the Australian ASX-200 ended slightly up at 6053.10 (+0.20%).  Europe is busy opening at the moment and first impressions is low volumes and caution across trading floors in London, Frankfurt and Paris and the Pan-European Stoxx-600 is trading flat at the moment.

Oil prices have been given a boost as Saudi Arabia’s Crown Prince Mohammed bin Salman arrived in Washington amid rumours that a fresh set of sanctions are going to be announced for Iran and if it occurs there would be upto half a million barrels per day missing from the market as the year progresses.  U.S. WTI Crude rose $1.56 by last night to close at $63.68 and approaching a small resistance area at $64.00.

Gold prices are up this morning as the U.S. Dollar falls slightly although it had a negative session on Tuesday, it fell $5.90 to $1311.00 but is at $1317.40 at the moment and looks to be rising towards the 50-day moving average ($1320)

Trading Diary:

09:45am   Just taken a ‘short’ position on my UK FTSE-100 15-min chart, it’s a Master-The-Trend Strategy-B pattern and my stop loss is 15 pips.

10:10am    I need to pop out for an hour or two so I have set my target at +20 pips for the FTSE position.

12:45pm   Back now and the FTSE trade is still current and I’ve also taken a ‘long’ position on my GOLD 1hr chart, more details soon just got a Skype call to do now.

13:10pm     The GOLD trade is a Master-The-Trend Strategy-A pattern and my stop loss is 33 pips, reasonable for the timeframe.

13:50pm    I have just taken a quick profit from my GOLD position (+64 pips) but my FTSE trade is trundling around break even, it has been going sideways for a few hours now.

16:15pm  It’s taken a while but my FTSE-100 trade has eventually been stopped out ! This means my overall score for today stands at +49 pips. Screens off and back early tomorrow morning.

08:15am    Back in the UK after a short break away to organise a new trading manual with an old friend who has been using my evening system for the last 18 years – more news on that later today. Loads of jobs to do around the house today but if I get a chance to do some chart watching I will report any trades in my Trading Diary through the day.

Market Update:

U.S. markets struggled yesterday amid continuing concerns over a looming trade war is still in trader’s minds at the moment, the S&P-500 index closed slightly down at 2747.33 (-2.15 points) after finding support at its 20-day moving average late in the session. The Dow Jones 30 index did finish slightly ahead (+0.47%) after UnitedHealth’s shares rose well and contributed to most of the gains.

The overnight Asian trading session ended mixed with the Hang Seng and Shanghai Composite finishing in negative territory on worries over trade tariffs ahead of a G20 meeting of finance ministers this weekend where President Trump’s proposed import tariffs will be top of the agenda. Elsewhere in the region, markets were slightly more upbeat and South Korean and Australian indices finished ahead with Telecoms helping bolster markets.

Oil markets are struggling this week and are down on average as over supply still haunts traders, U.S. WTI Crude did manage to close slightly ahead yesterday however and has bounced well of the minor support level at $60.00.  It is up this morning as well at $61.22 and heading towards the 20-day moving average at $61.62.

Trading Diary:

12:05pm    I have been out all morning but in now for a few hours so I shall watch my charts for any trading set-ups. There have been a few already this morning it would seem by glancing at my inbox.

12:45pm    Just taken a ‘short’ position on my GOLD 15-min chart. It’s a Master-The-Reversal UTB pattern and my stop loss is 16 pips.

14:05pm    The GOLD price, along with a lot of others is quite volatile at the moment so I have take this opportunity to close my position. My score is +69 pips.

14:15pm     Not usual for me to be working on a Friday afternoon so I am switching off my charts now ahead of the weekend break.

08:05am   No trading planned for today, I am visiting a friend in Portugal to finalise a new trading system that will be available at the end of the week. Back in the UK on Thursday if all goes to plan.

Market Update:

European markets finished mainly higher on Monday despite concerns over impending trade wars with the U.S. although the Dow Jones and S&P-500 ended in negative territory later in the day as President Trump brought in tariffs for imported steel and aluminium. The 25% steel and 10% aluminium tariffs are prompting concerns in Wall Street that affected countries will introduce tit for tat taxes in retaliation although Mexico and Canada are exempted and other countries are now beginning to negotiate some sort of deal with the U.S.  Corporate earnings/profits are ultimately what drives the equity markets and if tariffs are imposed on U.S. companies as a retaliatory measure then earnings from exports are going to be lower an this is what is worrying traders at the moment.

The overnight Asian trading session was hit by the negative sentiment in the U.S. and stock markets in Australia, China and Hong Kong fell although Japan and South Korea ended slightly ahead. As expected, the major steel and aluminium producers in the area were hardest hit and going forward, steel producers from South Africa, Australia, U.A.E.,Japan, Vietnam, Thailand,  South Korea, and Argentina are most at risk of displacement from Trump’s tariff decision.

The value of Gold has slipped in overnight trading as traders await news on U.S. consumer price data which is due out later today, it has reversed at the 20-day moving average and now looks to be heading towards $1307 – subscribers to my daily Trading-Guidance sheet have already been sent full details of this expected move.  Oil is continuing to be weighed down by rising U.S. production and stock levels, WTI Crude closed Monday’s session at $61.37, losing 80 cents on the day and is now looking to be falling to the $60.00 ‘Big’ number.

08:50am   No trading for me today as it’s Non Farm Payrolls once again, I will be back in front of my charts next Tuesday – I hope you all have a relaxing weekend break.

Market Update:

U.S. markets closed marginally higher last night as news emerged that sweeping import tariffs proposed by President Trump could be watered down for certain regions and futures trading overnight was also bullish after it was announced that the U.S. leader is willing to meet North Korea’s Kim Jong-Un for talks over denuclearisation. The Dow Jones closed up by 93.85 points (+0.38%) at 24,895.23 and the wider S&P-500 closed up slightly more at 2738.97 (+0.45%).

The overnight Asian trading session tracked the earlier bullishness in the U.S. and virtually all indices closed positively with the Chinese Shanghai Composite coming in with the highest increase at +0.58%. Traders in the region are also encouraged by the prospect of U.S./North Korean relations becoming less ‘frosty’ so we could see this positive sentiment spilling into next week.  This morning’s European trading session seems to be opening mixed as traders/investors await the U.S. monthly jobs numbers which are being released in a few hours, yesterday’s session was broadly bullish though and closed ahead for the fourth session in a row.

Oil traders see the Trump/Jong-Un meeting as positive as well and WTI Crude is on the march upwards, it is at $60.37, up on last night’s close of $60.25 and we have seen a certain amount of support at the $60.00 level over the last few weeks so we may see further rises through next week.