08:40am I am at home this morning, here in the study catching up on emails & Skype calls plus some chart watching from time to time. Any trades I have will be detailed below.
Market Update:
There has been a slight cooling in the bullish sentiment that’s been present in the U.S. equity markets after FOMC minutes released last night showed there is a growing chance of an interest rate rise sooner than later if all economic criteria continue in their present direction. Although both main U.S. equity indices closed up last night, the rise was less than has been usual this week, the S&P-500 finished just 0.60% ahead with the Dow Jones 30 managing only +0.16% (+32 points) and we could have seen Tuesday highs as a small resistance now for the rest of the week.
The overnight Asian trading session closed mainly down on concerns over a U.S. interest rate rise together with continuing uncertainty over Donald Trump’s economic policy changes and this has affected banks and financial shares today. European markets are largely following suit and it seems as though we also have already seen this week’s high as there does not seem much enthusiasm to push prices higher this morning.
Crude oil prices were squeezed yesterday by reports that U.S. stocks are at record highs once again although final confirmation will not be known for a few hours when U.S. Crude Oil Inventories are announced. There is an expectation of a build in stocks of 3.4 million barrels and this has largely been priced into the market, WTI Crude is slightly up this morning after yesterday’s negative session, it is currently sitting at $54.28 after hitting a low of $53.36 mid afternoon on Wednesday.
Trading Diary:
10:55am I have just entered a ‘long’ trade on my Gold 15-min chart, it’s Master-The-Trend Strategy-A pattern with a 10 pip stop loss.
11:20am I’m off to London very shortly for the rest of the day so I have brought my stop loss upto break even and set my target at +15 pips on the above trade – I will report back this evening
19:15pm Just arrived home and seen my earlier Gold position was stopped out just after midday at zero pips.
08:45am I have builders in the house for three days so I will be helping them as well as watching my charts from time to time – any trades I have will be reported below including the one I entered a short while ago on my Gold chart.
Market Update:
Everything is looking fairly bullish at the moment, the U.S. markets had another record day on Tuesday on the back of encouraging economic news and solid corporate earnings and last night’s Asian trading session closed mainly up with only the Shanghai Composite and Japanese Nikkei 225 falling slightly just before the close. European stocks have also got off to a good start despite continuing concerns in the region about far-right political parties gaining power in an anti-EU wave of popularity – while Marine Le Pen may not win outright, she is going cause a stir which could reverberate across the rest of Europe as other countries in the bloc hold their own elections.
Crude oil experienced another bullish day on Tuesday and U.S. WTI Crude reached a high of $54.99, a level not seen since January 3rd, although it does look like a small resistance area now so you can expect some profit-taking this morning ahead of tomorrow’s U.S. stock situation announcement. The OPEC Secretary-General told press in London yesterday that the cartel was seeing over 90% conformity to the output restrictions and this is helping keep the price up at the moment although U.S. shale production is still one variable which could upset OPEC’s carefully laid out plans for higher oil values.
Trading Diary:
09:05am The Gold trade details I have mentioned above are as follows – it’s a bullish UTB price reversal pattern on the 30-min chart and my stop loss is a fairly normal 19 pips.
09:15am I am now also in a ‘short’ Master-The-Trend Strategy-B position on my UK Brent Crude chart and my stop loss is 27 pips.
09:35am Just closed off my Gold position at +23 pips.
10:25am It’s turning out to be a busy morning , I am now in a ‘short’ position on my U.S. S&P-500 15-min chart, it is another Master-The-Trend Strategy-B and my stop loss is 18 pips.
11:05am Fairly quiet on my charts at the moment so I am off for cycle ride now.
12:20pm Just back home and my S&P-500 trade is in profit so I have closed it off at +25 pips but the Brent Crude position is still hovering around break even so I will leave that running for a while.
13:35pm Going out for lunch now and as I am already on +48 pips for the day I have moved my Brent Crude stop loss down to break even and left the target open to see where the price goes – I will check in an hour or so when I get back.
15:20pm The score for my Brent position has just hit +56 pips so I have now closed it off. Total for the day is now +104 pips so I am finishing now until tomorrow morning.
08:00am Nice relaxing day at home planned and any trades I have will be reported below.
Market Update:
U.S. equity markets reached further new highs during Monday’s trading session with the main S&P-500 hitting 2358.50 in early futures trading before falling back and closing last night at 2351.16 (+0.17%) and this morning it is sitting at roughly the same level after reversing at 2355.20 during the night. The overnight Asian trading session ended mixed with the Shanghai Composite and Nikkei 225 indices closing up but the Hang Seng and Australian ASX-200 closing marginally down, this disparity is mainly blamed on uncertainty around Trump’s next move regarding his much-anticipated economic reforms.
European markets have opened level to slightly up this morning although they have had no directional cues from the U.S. as they were on holiday yesterday. Gold is looking fairly bearish this morning after reversing at the small resistance area of $1244 last Friday, it’s direction this week is probably once again dependent on how equity markets fare. Crude oil markets are looking positive this morning and are trading at the upper level of the narrow trading range they’ve been in for the past few months, U.S. WTI Crude is at $54.10 at the moment although the daily chart is well overbought so we could see some selling pressure ahead of this week’s U.S. Crude Oil Inventories in a few day’s time.
Trading Diary:
09:50am I have just entered a ‘short’ Master-The-Trend Strategy-A position on my UK FTSE-100 15-min chart, the stop loss on this occasion is only 8 pips.
11:10am Just got back from a cycle ride and seen that my FTSE trade has been stopped out at -8 pips. Nothing else to get excited about on my charts so far.
12:40pm Another Master-The-Trend pattern has popped up on my Gold 15-min chart, it’s a Strategy-A set-up again and my stop loss this time is 16 pips. There was a similiar set-up on my WTI Crude Oil chart 20 minutes ago but I missed it as I was out in the garden at the time.
14:40pm The Gold price has come down quite well and I am now out of my position with a +38 pip profit giving me a total score for the day of +30 pips. Happy with that so I shall curtail my trading activities for another day and be back here tomorrow morning.
08:30am I am planning a morning here in my home office catching up on emails and doing some chart watching so any trades I have will be reported below. U.S equity markets will have lower volumes today as it’s their President’s Day Bank Holiday.
Market Update:
U.S. and European markets had a good end to last week’s trading and the main S&P index of the 500 leading companies staged another record close, finishing at almost exactly at 2350 on trader and investor hopes that President Trump’s much anticipated tax reform policies will be announced at sometime in the coming few days. These changes to the U.S. tax system are seen to benefit both individuals and companies and are therefore a positive for the economy but exact details are sketchy so we could still some volatility in the coming days across equity markets.
The first Asian trading session of the week closed positively on the back of last week’s optimism although the main Australian ASX-200 index finished down 10 points (-0.18%) after banks and commodities traded lower. This sentiment has spilled over to this morning’s European open with most bourses gapping up from Friday’s close although London’s FTSE-100 index is showing signs of some selling in the past 30 minutes, it is currently sitting at 7310 having seen 7316 in late futures trading on Friday evening. It is still some way off the record high of 7358 during the middle of January although if U.S. equities keep up their bullish sentiment this week it should carry UK markets with it.
Crude oil is still going sideways with no real direction, U.S. WTI Crude is stuck in the narrow channel between $50 and $54 as traders cannot decide whether cuts in OPEC production or rising U.S. output will win – the daily chart is looking slightly bullish this morning with its 20-day moving average providing some support.
Trading Diary:
10:10am Volumes on a lot of my charts are quite low this morning as you would expect with U.S. traders away from their desks, so nothing to report trade-wise yet but it does mean I can have a couple of hours outside in the glorious sunshine on my bike. Back to the charts after lunch.
14:05pm Been back home a short while and the only excitement has been a ‘long’ trade on my S&P-500 1-hr chart, it’s a Master-The-Trend Strategy-A set-up and my stop loss is 18 pips which is quite low for this timeframe but it does reflect the very low volumes present today.
14:35pm The U.S. market is potentially quite unpredictable so I have come out of my trade a few minutes ago as the profit has hit +21 pips and I am more than happy with that today.
15:05pm Just had a quick look at my collection of favourite charts and price movement is quite limited for the aforementioned reasons so that’s it for me today and I will be back in front of the screens at the usual time tomorrow.
08:40am I am planning a relaxing day at home today, catching up on emails and doing some chart watching from time to time. Any trades I take will be detailed in my Trading Diary below. This will be my last day in front of the screens until Monday.
Market Update:
U.S. traders are still in a buying mood on the back of economic reforms and tax changes by President Trump, the S&P-500 index closed higher for a fifth consecutive session and closed at another all time high at a whisker under 2350. Another driver of equity markets is the perception of an earlier than expected rate rise by the Federal Reserve, this is seen as confidence by the U.S. Central Bank and the financial sector is quite bullish at the moment on these expectations.
The overnight Asian session was not as bullish though with Japanese shares closing slightly down but both Chinese equity indices finished in the black and the Australian ASX-200 ended largely flat after gaining and losing throughout the session. Oil markets are falling as much as they should be given the high U.S. stock situation at the moment, WTI Crude ended Wednesday’s session largely even at $52.96 but has seen slight gains in early trading this morning and is currently sitting at $53.19. The production cut agreed by OPEC members and other large producers seems to be having some effect in keeping prices steady, it is reported that there is a near 90% compliance with the agreement which is far higher than most traders would have expected.
Trading Diary:
09:25am I have just entered a ‘long’ position on my WTI Crude chart, it is a Master-The-Trend Strategy-B set-up on the 15-min timeframe and my stop loss is a reasonable 21 pips.
10:20am Just had another scan of my favourite charts and there’s nothing else to see at the moment so I am off shopping with Head Office and then a cycle ride before lunchtime.
14:15pm I’m back home after lunch and can see my earlier WTI Crude trade has been stopped out at -21 pips. Nothing else to get excited about at the moment, I will have another look in an hour or so.
15:30pm Final look at my charts and no opportunities so I am turning off my screens and finishing early.
Back in front of my screens on Monday after a long weekend away.
06:50am Early start for me today as I am playing golf with some fellow traders first thing this morning but I will be back in front of my charts before lunchtime. Any trades I have will be detailed below.
Market Update:
The main news in the markets yesterday was Fed Chief Janet Yellen’s testimony which confirmed trader’s thoughts on the robustness of the U.S. economy. She said that any decision to put off rate rises too long would be a mistake and this sentiment gave equity markets a boost and the S&P-500 closed at another record high last night, up 0.40% at 2337.80. The overnight Asian session was driven by this positivity and closed mainly up with only the Shanghai Composite showing signs of selling in the past few hours.
The Crude Oil markets are seeing some falls as proposed OPEC production cuts are looking hard to police with Iraq not keeping to its part of the bargain so far and increased U.S. production also putting pressure on prices. U.S. WTI Crude fell from a high of $53.69 yesterday lunchtime to a current level of $52.84 this morning with further drops towards the 50-day moving avergae likely.
Gold values took a hit during yesterday’s U.S. trading session as Janet Yellen hinted at a Fed rate rise soon, it fell from a high of $1234.40 to $1226.30 last night and is down a couple of Dollars more this morning as the Asian trading session is coming to a close.
Trading Diary:
13:50pm Back home now and in front of my screens – I can report that I have just entered a ‘short’ position on my Dax-30 15-min chart using Strategy-B from the Master-The-Trend system manual – my stop loss is 18 pips. There was an early opportunity on my S&P-500 chart but I decided against it as the price was gapping quite a lot on my chart although it has now turned out ok and is well in profit.
14:20pm The Dax price has come down quite sharply but in the past few minutes it has started to retreat back upwards so I have closed my position off as I am more than happy with the +34 pip profit it has achieved.
15:35pm I am volunteering for some errands now as there’s not much to see on my favourite charts – so my score from above still stands for my day’s profit. Back here tomorrow morning for my last day of trading this week.
07:35am I am planning a nice quiet day at home catching up on emails and doing some chart watching so any trades I do have will be detailed below.
Market Update:
Main market news so far this week is the fact that U.S. stocks have hit another record high on hopes for President Trump’s upcoming tax proposals which could see savings for most sectors although optimism could be tempered slightly as Fed chief Janet Yellen is testifying in front of the Senate Banking Committee tonight – her comments will be keenly watched for clues regarding Federal Reserve interest rate policy over the next few months.
All three major U.S. indices closed at new highs with the main Dow Jones index of 30 biggest companies coming in 143 points higher (+0.70%) and the S&P-500 slightly behind at +0.50%. The Russell 200 and Nasdaq also managed record closes but we could encounter some consolidation (profit-taking) during today’s session. The overnight Asian trading session was not as optimistic with most stock indices closing in negative territory with only the Shanghai Composite ending higher (+0.05%) Europe is seen as more bullish however and is opening slightly up in the last half hour.
Crude oil values are still trading in a sideways channel although WTI Crude and Brent Crude both experienced a negative session yesterday on worries over increasing U.S. oil production which is in contrast to OPEC’s resolution to cut output to underpin the price. U.S. WTI Crude fell 93 cents during Monday’s trading session to close at $52.85 although it is trading slightly higher at $53.02 this morning.
Trading Diary:
08:45am Just been scanning through my collection of favourite charts and the only slight piece of excitement is the price action on my Brent Crude chart - it is showing signs of a ‘long’ Master-The-Trend trade set-up on the 15-min chart. More news soon…
09:10am Now in the aforementioned Brent position, it’s a Strategy-B pattern and my stop loss is 17 pips. Customers who have my Pro-EXPERT manual that works alongside the main Master-The-Trend system will know that this is not a ‘perfect’ set-up so I will probably not stay in the trade too long.
09:25am The Brent price has risen quite sharply as expected but is now showing signs of retreating back down so I am now out of my position with a +18 pip profit.
09:40am It’s cold but extremely sunny outside so time for a cycle ride…
11:55am Been back a short while and not seen anything on my charts so far. Off out to lunch in half an hour so no more to report until this afternoon.
15:30pm Following Fed Chairman Janet Yellen’s testimony this afternoon, some markets have become quite volatile and others are still going sideways but my collection of charts are not displaying any obvious trading patterns or set-ups so I am switching them off now until the morning.
08:20am Planning a quiet day at home today in front of my screens plus catching up on emails and Skype calls with new traders. Any trades I have will be reported below.
Market Update:
Yesterday’s U.S. equity markets endured a mixed session and ended with the main Dow Jones 30 index closing slightly down on the day at -0.18% but the wider S&P-500 started negatively but quickly staged a bullish comeback and ended 1.59 points up on optimism in the housing sector although banking stocks did their best to drag the average down. The overnight Asian session was fairly bullish as Gold and Oil prices provided a lift for traders, the Chinese indices were up between 0.2% and 0.5% but the Japanese Nikkei 225 index closed down 0.53% despite a more upbeat Machine Tool Orders survey that showed renewed optimism in the sector.
Gold had another good day and is now moving above its 200-day moving average which is normally quite a bullish sign for traders, it closed up $7.90 at $1241.20 and is trading slightly higher this morning at $1242.12. Crude oil prices were also in focus during Wednesday’s session, U.S. WTI Crude staged a bullish price reversal close to its 50-day moving average and closed up 73 cents at $52.35 and this morning traders are still buying and have pushed the price upto the $52.70 level.
Trading Diary:
09:30am I have just entered a ‘long’ position on my GOLD 15min chart, it’s a Master-The-Trend Strategy-B pattern with a 23 pip stop loss.
10:35am Just done the half hourly check on my favourite charts and I’ve notice my GOLD position has been stopped out at -23 pips. Nothing much else to get excited about at the moment.
11:05am I’m now in a ‘long’ position on my German DAX-30 15min chart, it’s a UTB price-reversal pattern with a 12 pip stop loss.
12:10pm The Dax price has shot up but is now settling down and coming back slightly towards the 11600 level so I have closed my position of at +56 pips. These types of trades are really the icing on the cake after a week of small(ish) profits. Every so often you will get a trade that shoots off in the direction you want and will provide you with a profit that’s two or three times the risk and it’s these occasional trades that help raise your average monthly profits.
After a morning inside I am off for a cycle ride soon and then lunch at my new ‘local’
14:35pm I’ve got back indoors from lunch and glanced at my list of favourite charts and there is nothing for me to get mildly excited about so far as trade opportunities are concerned, so I am calling it a day on my trading activities as I am more than satisfied with my score so far today (+33 pips)
I am taking ‘Head-Office’ to hospital tomorrow for a minor operation and then having a long weekend break so I shall be back in front of my charts next Tuesday morning – I hope you all have a nice relaxing weekend.
08:20am I shall be at home this morning catching up on emails and doing some chart watching but maybe out this afternoon playing golf – any trades I have will be detailed below in my Trading Diary.
Market Update:
Asian markets had a busy session last night and early this morning and initial losses were pared back so most indices closed the day slightly up despite pressure from falling oil prices. Overnight news from the American Petroleum Institute of a build in U.S. Crude stocks of around 14.2 million barrels due mainly to the increase in shale production has caused WTI Crude to fall from the high of $54.30 last Thursday to its current level of $51.73 this morning – it lost over $1.40 during yesterday’s fairly volatile session.
U.S. markets closed marginally up on Tuesday evening and the finish would have been better had it not been for energy stocks dragging the indices down after negative news concerning crude oil stocks. At one stage the Dow Jones Industrial Average was up over 100 points at a new high but it fell back on profit taking and closed 37 points ahead.
European markets are mainly treading water this morning after a good run yesterday, UK traders are optimistic on the general economic outlook as the Bank Of England are hinting at a rate rise during the first half of this year, a good sign that the economy is on track for growth. Gold looks to be moving up from its 200-day moving average, a bullish sign that is underpinned by the fact that U.S. equities seem to be struggling to move higher, the S&P-500 has tried in vein to get above the 2300 level in the past few weeks so watch for price going back up and giving us further trading opportunities.
Trading Diary:
10:35am No interesting patterns or set-ups on my collection of favourite charts so far this morning so I am off for an hour’s cycle ride.
12:10pm Just got back and checked my charts quickly and seen a ‘long’ trade has already triggered on my GOLD chart but I have been able to enter at a good level as the price has retreated back slightly since triggering at 11:35am. It is a Master-The-Trend Strategy-B set-up that is unusually showing up on both the 15-min and 30-min timeframes with a reasonable 31 pip stop loss.
13:50pm I am off out now playing golf for the rest of the afternoon so I have brought the stop loss on my GOLD position upto break even for protection and set the target at +31 pips.
18:25pm Just got back home and seen my GOLD position was closed out earlier this afternoon at +31 pips.
08:20am Planning a nice quiet day here at home in front of my screens – and I will also be catching up on emails & Skype calls. Any trades I have through the day will be detailed in my Trading Diary.
Market Update:
U.S. markets had a fairly pessimistic session on Monday with the Trump rally slowing and the main Dow Jones 30 index closing 19.04 points down as traders realise that expected market stimuli from the new administration such as lower taxes and deregulation are going to take longer than the new President would like (and has promised). This bearish sentiment also spilled over to last night’s Asian trading session where most bourses closed in the red, the main Chinese index (Shanghai Composite) was down by 0.11% and the Japanese Nikkei 225 closed at -0.35%.
This morning’s European markets are bucking this trend on the open with positive numbers in London, Paris and Frankfurt although there is not much economic news out this morning to give traders any direction. Oil markets started the week in a bearish mood and this morning’s trading is following in the same vein. U.S. WTI Crude touched a recent high at just over $54 yesterday and has since retreated all the way down to its current level of $53.11 this morning where traders are starting to buy as they see some value at the moment.
Gold is still trading around its 200-day moving average but may see some buying this week if equity markets become more bearish – it is currently at $1230.98 after a positive session yesterday that witnessed a rise of just under $15.
Trading Diary:
09:05am Taken an early ‘short’ opportunity on my Brent Crude chart – these types of trades can be be more risky that normal as the European trading session is still getting underway but the stop loss is quite small and the strategy itself has a good win/loss ratio. It is a Master-The-Trend Strategy-A pattern with a 17 pip stop loss and I entered the position a few minutes ago.
09:55am I have just come out of my Brent Crude position with a +21 pip profit – the price has come down quite nicely in the past half hour but is now retreating back-up towards the MA’s as it touched a low of $55.28.
10:30am No other opportunities coming up on my charts at the moment so time for a break from the screens, I am off for a cycle ride for an hour or so.
13:40pm While I have been out for an early lunch there have been a few opportunities but I am back now and I have just entered a ‘long’ position on my German DAX-30 chart. It’s another Master-The-Trend Strategy-A set-up and my stop loss is 12 pips.
14:55pm I am now out of the DAX-30 position with a +29 pip profit. The price hit the ‘big’ number of 11,600 before falling slightly so that seemed a good point to come out of the trade. My profit so far today is +50 pips which is more than satisfactory so I shall finish at that level and my total risk was 29 pips.
