08:20am   I am planning another quiet day at home so any trades I take will be detailed below in my Trading Diary.

Market Update:

European markets closed mostly up with travel and leisure stocks performing best as company results continue to beat expectations. The Catalonian situation is perceived to be broadly under control by the Spanish Government despite deposed Catalan leader Carles Puigdemont fleeing to Brussels and holding a news conference to deny he was escaping imprisonment.  U.S. equity markets also finished positively and ended had a seventh straight monthly gain as enthusiasm for Trump’s administration continues to power stocks, the Dow Jones rose 4.3% in October and closed last night at 23,377.40 (+28.50) and is further up this morning in futures trading at 23,464.90 so we could see a new record high by this evening.

The overnight Asian trading session closed broadly up also as China’s Caixin manufacturing PMI came in around the expected number and energy stocks rose as Crude Oil values rose.  WTI Crude gained 53 cents yesterday to close at $54:61 as expectations that the OPEC production limits will have the desired effect on prices, the U.S. benchmark is higher this morning at $54:95 which is almost at the 2017 high of $55:21.

Gold is still trading around its 200-day moving average and had a negative session yesterday as money flowed into equities but it has had a small boost this morning and is currently $4:80 up on last night’s close at $1275.65.

Trading Diary:

09:15am    I have just taken a ‘long’ position on my GOLD 30-min chart, it’s a Master-The-Trend Strategy-B set-up with a 34 pip stop loss.

10:10am    Just taken a quick profit from my GOLD position, I am now out with +34 pips.  I am wary that equity prices are advancing which should signify a drop in the Gold price so I have booked the gain before the price falls.

10:35am   Cycle ride now – quiet on my charts at the moment.

14:00pm   I am back from lunch and a quick scan of my charts shows no immediate opportunities so I am switching off my screens for the day and carrying on with house renovations.  Back here early tomorrow morning.

07:50am   Back in front of my chart this morning after an unexpected day off yesterday due to a strange 2-day sickness bug. I am planning to be at home for most of the day so any trades I find will be detailed below.

Market Update:

Monday’s European trading session closed mainly up with the Spanish IBEX-35 rising 2.45% by the close with banks contributing to most of the gains as the government is seen to be containing the Catalonian situation for the moment. Later in the day, the U.S. markets closed down by around 0.3% after news from the White House suggested that Trump’s much hailed corporate tax cuts are now gong to be phased in gradually over the next four years instead of coming in straight away at the beginning of 2018. Many traders have suggested that the recent rise in equity markets has been due to promise of lower taxes for the larger U.S. companies as this directly affects their profits/dividends.

The overnight Asian trading session ended mixed at best after Chinese PMI figures came in lower than expected at 51.6 against a predicted 52.2 and lower that last month’s figure of 52.4.  Oil markets are still looking positive although we are seeing some profit taking overnight, U.S. WTI Crude has reached a high of $54:43 yesterday before traders stepped in to book some gains. This level has not been reached since February and comes as OPEC and Russia have reiterated their desire to limit production well into 2018. Gold has bounced up off its 200-day moving average as money has moved out of equities, I have a target over the next few days of $1282.00 which coincides with its 20-day moving average, keep an eye on the charts as there will be some interesting trading opportunities soon.

 Trading Diary:

09:10am   Nothing to see on my collection of favourite charts so far this morning so I am off on a cycle ride now.

10:25am   Just entered a ‘short’ position on my 15-min GOLD chart, it’s a Master-The-Trend Strategy-B set-up and my stop loss is 13 pips.

11:10am    I have taken a quick profit from my GOLD position, the price has down to$1272.00 and I am out now with  +21 pip profit.  I am also watching a developing set-up on my S&P-500 chart.

11:25am    I am now in a second Master-The-Trend position, this time it’s a Strategy-A pattern on my S&P-500 15-min chart.

13:05pm     My S&P-500 position is still trundling along but has not yet reached any kind of decent profit so I will keep a close eye on it as we approach the start of today’s U.S. trading session.

14:00pm   My S&P-500 position has been stopped out a-14 pips amid the volatility that is usual around this time of the day.

15:45pm     Since I’ve been back from lunch there’s been no exciting opportunities on my favourite charts so I am switching them off now. Back at the usual time tomorrow morning.  Today has been the last trading day of October and I will do a round-up later today regarding my performance with my systems over the last 31 days.

08:30am   Planning another quiet day at home catching up on Skype calls and emails plus some chart watching from time to time. Any trades I find will be detailed below in my Trading Diary.

Market Update:

Third quarter company results continue to come in and affect the U.S. markets and buoyant numbers yesterday gave the Dow Jones reason to rise a record level last night of 23,441.76, a rise of 176 points which is a new intraday rise for this year. Traders are also optimistic about tax reforms in the U.S. as it will bolster spending and company profits and this is also driving equities to ever new highs.  This optimism has spilled over to the overnight Asian trading session where most of the main indices closed up although the Japanese Nikkei-225 index broke its  16-day winning run by closing down by 97 points at 21,707.22 after a late sell-off which was mainly attributed to profit taking.

Oil prices are holding steady at the moment with U.S. benchmark WTI Crude hovering around its monthly high of $52:60 although there is some selling this morning. OPEC have reiterated their commitment to reduce stocks across industrialised nations and have agreements from Russia and other large producers to carry on their self imposed production cuts into 2018 in an attempt to keep Crude prices around current levels although there will always be a risk that cuts to production on the Middle Eastern region will encourage U.S shale producers to flood the market with their own products.

Gold has suffered some selling after rises across equity markets yesterday and it is heading down towards it’s 200-day moving average at $1266.00 as I alerted subscribers this morning. Watch for a possible price reversal at this level, I will be sending out a chart to customers this morning.

Trading Diary:

09:35am  Quiet on my charts at the moment so off for a cycle ride.

13:00pm  No trades taken yet and now off for some lunch at my local.

14:20pm   Back home and just glanced at my charts, no opportunities on my favourite charts so I am going to switch off my charts for the day.

I have a planned day off with the family tomorrow but I will be back in front of my charts on Friday morning.

08:25am   Back in front of my screens today and my plans are to do some chart watching today while going through all the emails that have come in over the past 4-days. Any trades I find and take will be detailed below in my Trading Diary.

Market Update:

Although all the major indices in the U.S. closed down yesterday, the S&P-500 and Dow Jones 30 did reach all time highs once again during the day before profit taking and falls in individual shares brought the indices down.  General Electric was a major loser during the session after it lost 6.3% of its value, its largest one day fall for 6 years as lower than expected earnings were reported on Friday and concerns yesterday that the dividend will now be cut.

The overnight Asian trading session closed flat although one notable good performance came from the Japanese Nikkei-225 index that finished up by 108.65 points which is its sixteenth straight positive close and the index is now sitting at a new 21 year high at 21,805.17. Following on from this, the European trading session has got off to a lacklustre start this morning as concerns over the Catalonian situation in Spain is hanging over traders and investors so watch for some buying of Gold later in the week. Subscribers to my Trading Guidance email will note however that there is the likelihood of falls on the Gold chart today before any buying takes place according to the price action this morning.

Oil markets are up slightly this morning on news that exports from Southern Iraq are down by around 110,000 barrels per day due to local fighting in the region. WTI Crude Oil jumped in early trading although it has fallen back slightly as it reached a previous support/resistance line at $52.00, expect a possible move down to its 20-day moving averafe over the next few days.

Trading Diary:

09:10am     I have just managed to get into a ‘short’ position on my Gold chart. It actually triggered 10 minutes ago but the price did not fall quickly so I was able to enter the trade at a better level.

09:25am     The above trade is another Master-The-Trend Strategy-B pattern with an agreeable 14 pip stop loss. There is also a possibility of a similiar trade on Crude Oil soon.

09:45am     Now also in the above mentioned WTI Crude Oil trade. It’s another Master-The-Trend Strategy-B set-up with a 20 pip stop loss.

11:50am    Just back from a rather long cycle ride and seen that my WTI Crude position has been stopped out at -20 pips.  The Gold trade is still trundling along showing a small +5 pip profit currently.

12:30pm    Just taken a ‘short’ position on DAX-30 15-min chart, its a Master-The-Trend Strategy-A set-up with a 10 pip stop loss.  I do not envisage staying in very long as it is close to the U.S  trading session open.

13:30pm    The DAX price has risen quite well but is now retreating fairly quickly as the U.S. markets opens so I am now out with a  small +15 pip profit.  Gold is also reacting but still looks bearish so I will stick with it for a while and see what happens.

14:35pm     I am now eventually out of my Gold position. The price has come down to $1275:50 but is struggling to get lower so I closed the trade at +34 pips.

14:50pm   Out for a late lunch as I spent longer than I had imagined in front of my charts today. As my score so far today after three trades is +29 pips I will probably finish for the day.  Back at the usual time tomorrow morning and then a planned day off on Thursday with the family.

So far in October I have taken 15 trades of which 13 have been winners and my total score so far is +338 pips.

08:15am  Not sure how much chart watching I will get in today as we are off around lunchtime for a long weekend break until Monday night. If I do manage to take any trades they will be detailed below in my Trading Diary

Market Update:

Despite a volatile Thursday trading session in the U.S. the major indices closed again at record highs and futures markets at the moment are pointing to further buying as traders bet on earnings continuing to come out better than expectations. Late in the day the U.S. Senate passed a budget proposal which is going to allow the  Republicans to move closer to their planned tax reform and this has had a positive effect on markets and contributed to a  general upbeat bullishness during the overnight Asian trading session where virtually all the main markets closed ahead.

European indices are also looking fairly optimistic this morning despite the looming issues in Spain over the proposed Catalonian Independence, most bourses have spiked up in early trading and this in turn has sent the value of Gold tumbling down once again. It closed last night at $1289:80 but is now sitting at $1280:90 and heading swiftly towards its 200-day moving average at $1266:00 so watch for a reaction if it does fall that far today.

Oil traders indulged in a bout of profit taking yesterday after four straight sessions of gains which saw the U.S. benchmark WTI Crude rise to a recent high of $52:24 but then fall back to a close last night of $51:29. There could be some further falls today as the price heads towards to 20-day moving average at $50:90 so watch for trading opportunities at this level.

Trading Diary:

11:55am   I’ve been watching my charts on and off for the past few hours and no trading opportunities have popped up on my list of six favourite charts so I am switching off my screens now and going off for a long weekend break – back here next Tuesday.

09:30am   Nice relaxed start to my trading day after a very late night and I am planning to be at home now for the rest of the day and any trades I take will be detailed below in my Trading Diary.

Market Update:

European markets were higher yesterday as third quarter earnings came in higher than expected and last night’s U.S. market close was also bullish with he Dow Jones 30 index closing above the 23,000 level for the first time ever after a rise of 160 points which was helped by IBM  after they released quarterly results that came in higher than expected.  This optimism did not carry through to the overnight Asian trading session even though the wealth of Chinese economic data released through the session came in widely as expected, the Hang Seng ended the day as the largest loser with a fall of 1.32% due to a large amount of selling right at the end of today’s session.

Oil markets are being driven by some fairly upbeat news at the moment, the U.S. benchmark WTI Crude had a positive European session yesterday as the stock situation in the U.S.  continues to tighten and the market believes that OPEC production cuts will be extended further into 2018.  Technical traders have struggled to see any upside above the $52:25 level though and this is causing some selling this morning and WTI is coming down from that level and is currently sitting at $51:40 after finishing at $52:00 last night.

Gold is continuing to suffer as traders and investors continue to pour money into equities although we could see a small rise as profits are taken out of the U.S. indices following the rise to record levels. The yellow metal reversed once again at the $1277 level last night and has risen sharply this morning to $1283.60 with further bullish moves predicted by many traders.

Trading Diary:

11:00am  Just taken a ‘short’ position on my 15-min FTSE-1oo chart, my stop loss is 8 pips.  It’s yet another Master-The-Trend set-up, this time a Strategy-A patetrn.

12:10pm  Out for a cycle ride in a minute so closed my FTSE position, I will send out exact details and chart screenshot as usual to customers as soon as I get back. Score +22 pips.

14:15pm   Back home now and nothing much happening on my collection of favourite charts so I am switching the screens off for the day, happy with my score so far.

08:40am   My plans for the day involve some chart watching, Skype calls and emails. Any trades I do find will be detailed below in my Trading Diary.

Market Update:

U.S. equity markets are on the march once again and the Dow Jones 30 index hit another record during Tuesday’s trading session. For a brief period the index went above the 23,000 level before settling at 22.997.44 at the close (+0.18%) with Boeing, Caterpillar, Goldman Sachs and Home Depot contributing the most to the bullish momentum over the last few months. Some Wall Street traders are calling a top at this level so keep a line drawn at this level if you do trade the index.  The S&P index of top 500 U.S. companies is also at record levels, it closed just short of 2560 last night but is slightly down this morning in futures trading at 2559.30.

The overnight Asian trading session was largely flat as traders watched for signs of future Chinese government policy at their 19th Party Congress meeting.  The country has the second largest economy in the world so any clues regarding future economic policy will be carefully analysed by traders around the world. In the end, President Xi Jinping spoke for over 3 hours but did not excite the watching media with anything concrete although he did reiterate his stance on economic reforms and greater market access in the service sector.

Oil markets are on the rise again as tensions in Iraq will possibly disrupt the supply chain in the region together with the U.S/Iranian disagreement which could result in renewed sanctions for the ‘rogue’ nation. There was also a U.S. Crude Oil Inventories over the last week which has helped WTI Crude rise from Monday morning’s level of $51:41 upto the present $52:07 but watch for volatility later today as official U.S. stock levels are announced.

Trading Diary:

09:40am   Just taken a ‘short’ position on my GOLD 15-min chart, more details soon, house very busy this morning.

09:50am  My trade is a Master-The-Trend Strategy-A pattern with a 9 pip stop loss.

11:25am    The GOLD price has come down quite quickly but is now struggling to get lower than $1279.50 so I have closed off my position with a reasonable +32 pip profit.  Going out for a cycle ride now with some neighbours.

14:55pm    Back home from lunch and there’s not much happening on my collection of favourite charts so I am switching them off for the day, back here early tomorrow morning.

07:55am   Back to a fairly normal ‘working’ day after a long weekend break and I am planning to be at home catching up on emails and doing some chart watching as well. Any trades I take will be detailed below in my Trading Diary.

Market Update:

All three of the major U.S. indices reached record highs once again yesterday with JP Morgan Chase leading the climb in shares with a 2% rise by the close. Other tech shares in the spotlight are Apple and Netflix with the latter showing that subscribers are growing at a larger than expected rate and this sentiment drove the Nasdaq up by 0.3% last night to 6624.  The overnight Asian trading session was also quite bullish on the back of the positive U.S. close and higher commodity prices, copper and oil rose on Monday but have yet to retreat back on profit taking. The Australian ASX-200 finished up by 0.7% as it is heavily weighted with commodity and banking shares.

Crude oil made gains yesterday as risk returns to the market with supply concerns in Iraq due to renewed fighting in the region and reports that Kurds have closed production from major fields in Avana and Bai Hassan because of security concerns so around 350,000 barrels per day have been taken away from the market. U.S. WTI Crude closed up 49 cents last night at $51:90 and is trading around that level this morning.

Gold had a good run last week and rose over $43 over the past six sessions but it reversed at $1305:80 yesterday as traders diverted cash into equities instead.  It is further down this morning after the overnight Asian trading session and is currently sitting at $1290.05.

Trading Diary:

09:10am   I have just entered a ‘short’ position on my FTSE-100 15-min chart, it’s a Master-The-Trend Strategy-B set-up with a 14 pip stop loss.

11:00am   Back from a cycle ride and seen that my FTSE position has been stopped out at -14 pips.

13:10pm   A Master-The-Trend set-up has just triggered on my GOLD 15-min chart, it’s a Strategy-A pattern and I have a 15 pip stop loss.

16:15pm   The GOLD price has fallen sharply as equity markets have risen so I have now closed my ‘short’ position, my score is +63 pips giving me an overall +49 pips for the day. As it’s late in the afternoon I am closing off my charts for the day, back here early tomorrow morning.

07:55am   I am out and about this morning on errands with ‘Head Office’ but planning to be back in front of my charts before lunchtime. Any trades I take will be detailed below in my Trading Diary.

Market Update:

Equity markets in the U.S. closed slightly down yesterday after reaching new highs intraday as traders adjust their positions ahead of the autumn earning season and inflation data that is due out later today. The S&P-500 touched the new resistance at 2555.00 during yesterday’s session before closing at 2550.93 (-0.14%) and the Dow Jones 30 was down a similiar amount last night. The overnight Asian trading session closed mostly up however despite the selling in the U.S. earlier as traders digested Chinese Trade Balance figures. Exports for September came in ahead of expectations (+8.1%) while imports rose year on year by 18.7% which surprisingly was behind economist’s estimates.

European markets are opening flat this morning as Brexit negotiations and Spanish issues are weighing on investor’s minds. The UK’s divorce from the rest of Europe has hit another brick wall which looks to be affecting equity markets in London and there is still no clear solution for the independence situation in Catalonia so there are lot of traders who are just sitting on their hands for moment.

Oil markets are looking ,ore optimistic this morning after U.S. inventory numbers showed a slight decline in stocks together with growing Chinese imports of crude. U.S. WTI Crude Oil finished 27 cents down yesterday at $50:71 but is climbing this morning and is currently sitting $51:24 although we could see further declines as traders believe there is fairly strong resistance around the $51:00 level.

Trading Diary:

11:40am  I’ve been back home for half an hour and just got into a ‘short’ trade on my 15-min Gold chart.  It’s a Master-The-Trend Strategy-A pattern and my stop loss is only 10 pips.

13:10pm  Off out for lunch so setting take profit level at +20 pips in case there’s an adverse reaction in 20 minutes when the U.S market opens and the CPI figures cause some volatility.

17:50pm   I have been out all afternoon but have just checked my charts now that I’m home and seen that my earlier Gold trade was closed at its target of +20 pips.

Running total for the month is now +206 pips.

08:05am   After a busy day outside yesterday I am looking forward to a relaxing time here in my home office catching up on emails and watching charts. Any trades I take will be detailed below in my Trading Diary.

Market Update:

U.S. equity markets experienced yet another record breaking session after the Federal Reserve released minutes from their last meeting that showed members were inching towards a rate rise in a few months, as they believe that the economy is now strong enough to withstand a small hike. The Dow Jones 30 index rose 40 points to close at a new high of 22,872.89 and the wider S&P index of top 500 U.S. companies closed 0.2% up at 2555.24 which subscribers of my Trading-Guidance service will have noted as a significant resistance area.

This optimism spilled over to the overnight Asian trading session early this morning where most bourses closed ahead with the Chinese Hang Seng index leading the charge upwards by finishing 110 points higher at 28,500 (+0.39%).  Today’s European session has started fairly flat however with lingering concerns over the Spanish situation and Catalonia even though there has been a stay of execution regarding independence talks, the Spanish IBEX-35 has opened sharply down after the large rise seen on Tuesday.

Crude oil values are holding steady after a large bullish move at the beginning of the week and U.S. WTI Crude is still above the significant $50 level although we could see some bearish activity today after the release of the weekly oil inventories numbers in the U.S.  The Daily WTI chart is suggesting a move down towards its 20-day moving average at $50:25 from it current level at $51:04.

Trading Diary:

11:05am   I have just returned from a cycle ride in the sunshine to see that a ‘long’ trade had been setting up on my 15-min FTSE-100 chart but the price has not advanced much in the last 30 minutes so I have managed to get in at an advantageous level giving me a relatively small 7 pip stop loss.  The pattern is a Master-The-Trend Strategy-B set-up.

12:15pm   The FTSE price has shot up quite well in the last 30 minutes and I am now out of my position with a +20 pip profit.

14:10pm   I am trying a quick trade on crude oil before the U.S. Oil Inventories number is released. I have just taken a ‘short’ position on my WTI Crude 15-min chart using the Master-The-Trend Strategy-A pattern and my stop loss is 16 pips.

15:05pm   My WTI position is doing ok but I have just brought my stop loss down to break-even to protect myself against any potential losses when price becomes more volatile as the weekly crude inventories number is released.

16:00pm  Now out of my WTI Crude position with a 25 pip profit giving me day’s total of +45 pips.  Charts off now and I maybe back here tomorrow morning, not quite sure yet as ‘Head Office’ has been muttering about alternative plans for the day…..