09:20am    Nothing planned today except for catching up on emails and sending out my Trade-Alert sheets to subscribers plus some chart watching from time to time so any trades I have will be reported below.

Market Update:

Main market news yesterday was President-elect Trump’s first official news conference where investors and traders were hoping for some clues as to his policy going forward. There was some disappointment as he did not really hint at specific economic measures but he did take a swipe at certain sectors, mainly drug and defence companies where he believes too much profits are being made to the detriment of U.S. citizens and shares in those sectors did take an initial hit but overall equity markets did recover by the end of yesterday’s session and the main Dow Jones 30 index closed up 99 points at 19,954 so it once again getting close to the significant 20,000 level although during this morning’s futures market it has fallen back towards to the 19,900 level.

The overnight Asian market was mainly negative as traders there were expecting some upbeat comments on economic policy details in relation to world trade from Donald Trump which did not materialise and this created uncertainty which as previously mentioned, markets do not like. European markets are also mainly negative this morning and are waiting to see what happens later today once the U.S. markets open once again.

Oil was in the news as well yesterday with U.S. crude Oil Inventories showing a weekly rise of 4.1 million barrels to 483 million which ordinarily would send shock waves across trading floors but there is also evidence of high demand which dampened the shock – U.S. WTI Crude Oil prices closed up $1.56 at $52.35 and is largely similiar at the moment.

Trading Diary:

09:50am   I have just entered a ‘long’ position on my Brent Crude chart using the Strategy-A pattern from my Master-The-Trend system. It has a 15 pip stop loss, quite low for the 15-min timeframe.

11:35pm   The Brent Crude price has shot up fairly sharply in the past 30 minutes but has now levelled off after hitting a high around $55.90 and I am now out of my position with an acceptable +38 pips.

Off for a cycle ride, need some exercise…

12:55pm   Nothing else to report regarding trading opportunities, off to lunch now.

14:30pm   If the price on the German Dax-30 index falls below 11563 in the next 15min-30mins a ‘short’ Master-The-Trend position will be triggered.

14:50pm    The Dax price did fall past the required level so I am now in the position mentioned above. It’s a Strategy-B set-up with a larger than normal 42 pip stop loss which is a reflection of the volatility in that market this afternoon.

16:55pm   The Dax price has come down quite nicely and more than covered my stop loss value, plus I have done more than enough chart watching today so I have closed the position at +55 pips. My total for the day is +93 pips and full details and chart screenshots will be sent out in my daily “Nick’s Trades” email in the next hour or so.

09:30am    Nice quiet relaxing day at home today, so I will be doing some chart watching from time to time inbetween emails and Skype call and any trades I have will be reported below. I am slightly later than usual with this Market Update as I have some issues with my broadband this morning although all seems ok now..

Market Update:

Markets this morning are awaiting President-elect Donald Trumps first official speech ahead of him moving into the White House at the end of next week.  The U.S. S&P-500 index has had a good run-up this year but has stalled this week after reaching a high at 2282 last Friday and traders are sitting on their hands until they can digest the details of Trump’s speech later this afternoon (European time).

The overnight Asian market ended mostly up as they generally see the new Trump administration as good thing for trade between their respective countries and European indices are following suit in the first few hours of trading this morning. Crude oil values have jumped up on sketchy rumours that Saudi Arabia has cut supplies to some Asian customers although full details seem unavailable at the moment which has capped the bullish move – WTI Crude closed down $1.07 last night at $50.75 but has risen this morning to around $51.12. As expected, there has been a small move to safety ahead of the Trump speech so Gold rose $6.51 yesterday to $1187.50 and it’s at the same level this morning as the 50-day moving average provides some resistance.

Trading Diary:

10:45am   I’ve just entered a ‘short’ position on my Brent Crude chart – it’s a UTB price reversal set-up with a 15 pip stop loss.

11:05am   Off for a cycle ride now, I’ve left my stop loss set at 15 pips but left the target open for the moment and I will see where the price has got to when I get back. It is not a strategy I would suggest for a new trader, it would be better to set a target of 1:1 or 1.5:1 instead.

12:20pm  Out of my Brent Crude trade now, it has given me a +24 pip profit.  The weekly Crude Oil Inventories numbers are out soon so it was never going to be an lengthy trade and I am happy with the small profit.

14:15pm    I am now in a ‘short’ Master-The-Trend position on my Gold 15-min chart, it is a strategy-B set-up with a 27 pip stop loss.

15:20pm   The Gold price has come down nicely and it has achieved a +87 pip profit so I am now out of the position.

With volatility in the Crude Oil market following the Crude Oil Inventories and Trump’s speech coming up in 40 minutes time, I am going to close my charts now and be back trading here tomorrow morning.

08:10am    At home this morning catching up on emails and doing some chart watching ahead of meetings in London later this afternoon. Any trades I do have will be detailed below.

Market Update:

The overnight Asian trading session closed mainly negatively as stocks were under pressure from the decline in U.S. equity markets yesterday plus the fall in Crude Oil prices in the past 24 hours. Monday’s U.S. session finished down except for the tech-heavy Nasdaq index – the Dow Jones Index closed 75 points in the red as utility shares fell ahead of the first earnings season of the new year although Goldman Sachs had the largest drop of the session and the 3.75% fall in in Crude Oil values also contributed to the negative sentiment.

With this wave of pessimism sweeping markets as the world gears upto the start of Trump’s presidency, it is no real surprise that investors and traders are buying gold at the moment. This commodity had another positive session yesterday, rising $8.21 to close at $1180.90 and this morning it is higher at $1184.70 and quickly approaching its 50-day moving average so we may see some profit taking at that level.

The fall in Crude Oil prices has been mainly attributed to concerns over higher production in the U.S., WTI Crude fell $1.98 during Monday’s session to close at $51.76 although it is slightly higher this morning at just over the $52 level – this has been a good support in the past so watch for further reaction.

Trading Diary:

09:05am   Quiet currently on my favourite charts with no trading set-ups standing out so time for a cycle ride…

13:15pm   In the past 3-hours since I’ve been back from my cycle ride there’s been no trade set-ups on my group of favourite charts and I am now off to London for the rest of the day – back here in front of the screens tomorrow morning.

07:15am   As it is Non Farm Payrolls Day I will not be trading today although I shall be in front of my screens this morning compiling trade alerts for my Triangle and Trend Alert Service.

Market Update:

Main news in the markets today is the monthly U.S. jobs report and the numbers are released in around 6 hours time with expectations of a rise of around 175,000 jobs, slightly down on November’s figures. U.S. equity markets did reach new highs during December but since the middle of the month there has been a reluctance to rise further and this is partly down to concerns over Trumps first moves when he become President in 2-weeks time. You can expect some volatility during today’s European/U.S. trading session after a quiet start and traders will be watching to see if December’s highs are broken this afternoon once the jobs numbers are released – if this does occur, you can expect the S&P-500 to start moving towards the 2300 level (currently 2267.12)

The overnight Asian trading session ended mainly down with Chinese equity markets subjected to some profit taking ahead of tomorrow’s report on Chinese Foreign Exchange Reserves for 2016 – many commentators believe the Chinese government has burned through a disproportionate amount of Dollars in support of the Yuan.

Gold was also subject to some profit taking earlier today as investors await the Non Farm Payrolls numbers which will give a clue to the Federal Reserve’s timetable for rate rises this year – the yellow metal reached a 21-day high of $1184.81 yesterday but is now trading down at $1173.95 as traders adjust their positions before the U.S. jobs numbers come out.

09:05am   Back in the UK after a 2-week holiday, I am at home today and planning on catching up on emails and hopefully do some chart watching as well from time to time.

Market Update:

There has been a bullish sentiment in the markets after the Christmas break but the Federal Open Market Committee’s latest meeting minutes that were released yesterday show a willingness to increase U.S. interest rates quicker than first thought and this has dampened buying enthusiasm slightly plus there is still concerns over the first few weeks of Trump’s presidency and what he will announce. U.S. equity markets rose well yesterday but failed to reach the highs of mid-December so we could see resistance at those levels.

The overnight Asian markets ended mixed with Japanese shares under pressure from profit taking after a 2% rise during Tuesday’s session but the Hang Seng index faired better and closed up 1.47%. European equity markets are opening slightly down on banking and insurance company concerns although in London the benchmark FTSE-1oo index did rise above the 7200 level a short while ago, a new all-time record – so expect some profit taking during the day.

Oil markets seem to have stabilised after a rocky ride in 2016 and I have sent out a chart earlier to subscribers showing a possible support area at $52:00 on the WTI Crude Oil chart. Hopes of a production cut by all the major producers is keeping prices up, this month’s stock announcements will confirm whether we have now seen the low for the oil price.

Trading Diary:

09:45am    There is not much to get excited about on my collection of favourite (six) charts so I am off to do some shopping quickly. Back in an hour or so.

12:10pm    Been watching my charts on and off for the last hour or so and nothing has popped up trade-wise so off for lunch with some fellow traders. Back in front of the screens later this afternoon.

14:20pm   Just got into a ‘long’ trade on my Gold 15-min chart, it is a Master-The-Trend Strategy-B pattern with a 20 pip stop loss.

15:30pm    The Gold price has risen quite well over the last 30 minutes so I am now out of my position with a +49 pip profit.  Happy with my score for the first day back so I am finishing my chart watching for today – and no trading tomorrow as it’s the first Friday of the month meaning the U.S. employment figures are released.

I would like to wish all readers of this Trading Diary a very Merry Christmas and a prosperous new year and I hope you have a nice, relaxing holiday break.

As mentioned previously, yesterday was my last day this year in front of my charts and I will be returning to my screens on Thursday 5th January.

08:25am   This is my last trading day this year and will be going away on holiday tomorrow until January 4th, so I will be back in front of my charts on Thursday 5th January.  Any trades I have today will be detailed below.

Market Update: Yesterday’s U.S. trading session ended in a bullish move with the main Dow Jones 30 index closing in once again on the 20,000 level, it ended the day at 19,974 (+95 pips) and price action on the 4-hr chart this morning is hinting that we should see the big number reached before the end of the week. The overnight Asian markets was similarly bullish except for the Japanese Nikkei-225 index which closed down 50 points at 19,444 – profit taking was the main culprit as traders booked profits after a good run-up since the summer.

The sentiment in Europe this morning is slightly different however as Germany confirms that they did suffer a terrorism attack and they still do not know who the perpetrator was yet, putting a lot of Northern Europe on high alert.  Wednesday sees  the U.S. oil stock announcement and estimations are for a fall of 2.4 million barrels so any variation will probably see a price reaction around  16:30pm European time. U.S. WTI Crude Oil is currently sitting at $53:59 after a positive trading session yesterday where the price rose $1:41 to close at $53:49.

Trading Diary:

10:40am    Not much happening on my collection of favourite charts so far this morning so I am off for a cycle ride along the beach path.

13:00pm   Been back an hour or so and no opportunities on my chart so I am closing off my screens and calling it a day on trading this year as I have been invited out for a clay pigeon shoot this afternoon.

07:55am   Back home after a short break and I was envisioning doing some chart watching this morning but I now have an unexpected planning meeting until 2pm. I will be back at home this afternoon so if I do have any trades they will be reported below.

Market Update:

U.S. equity markets closed yesterday slightly higher on lower volumes in the run-up to the Christmas holidays and the tech-heavy Nasdaq hit another all-time high although profit-taking did cause the index to close slightly off this level. The overnight Asian market was also fairly bullish although China and Hong Kong indices were slightly down as capital outflows weighed on stocks and the European session open has surprised many by appearing bullish as bourses start today’s trading session despite attacks that are thought to be terrorist-related in Turkey and Germany in the past 24hrs.

Oil traders seem to have taken an early holiday as volumes in the crude market have taken a hit at the start of this week, U.S. WTI Crude did move much at all through Monday’s session, it closed at $52:12, down 3 cents on the day after a $1:02 trading range. The daily chart is now suggesting perhaps a small up move towards the Christmas holiday break. Gold has had a few days respite from the bearish move that’s been prevalent since the beginning of November although this morning’s price action suggests another move down towards the $1122 level, currently at $1132.27.

Trading Diary:

16:45pm    I’ve not been indoors long and the only excitement I have seen in the past 15 minutes was a fairly standard UTB price-reversal pattern on my UK Brent Crude Oil chart. The price dropped below $55:63 a few moments ago so I am now in a ‘short’ position with a 31 pip stop loss which is about average risk for a 30-min chart.

17:40pm   Quick trade !  Price came down nicely but it has now started retreating back upwards so I am now out with a +32 pip profit.

09:00am   A planned trip away for 3-days has been put back 24hrs so I am unexpectedly at home today which means I will be watching charts this morning from time to time – any trades I find and take will be reported below.

After today’s session I will back trading on Tuesday morning.

Market Update:

The overnight Asian markets ended fairly upbeat partly due to favourable currency swings and also the continued bullishness in the U.S. where the Dow Jones 30 index continues its march towards the 20,000 level. The leading U.S. index closed at 19,852, up nearly 60 points on Wednesday’s close with the wider S&P-500 posting similar gains but so far this morning the start to the European session has failed to carry the bullish baton, most indices are flat to negative.

There has been a small rise since late on Thursday as OPEC member Kuwait announced that it was cutting supplies to customers and rumours are abound that these cutbacks are slightly larger than expected at 1.8 million barrels a day. Also significant is an expected cut by 11 non-OPEC countries in January and these moves are expected to establish a support line on the WTI Crude chart around $60 with a target of $60 for 2017. The U.S. benchmark closed at $51.04 last night, up 37 cents on the day but it is trading slightly lower this morning.

Gold is still declining as U.S. indices march further into record territory but there does seem to be a small amount of buying today as the price hit a low of $1122.50 and is slightly up at the moment at $1133.01

Trading Diary:

09:25am   Entered a ‘short’ position on my WTI Crude chart, it’s Master-The-Trend Strategy-A pattern with a 12 pip stop loss.

09:35am    Quick bracing 10-mile cycle ride now, leaving stop loss on my WTI trade where it is and no target. Currently sitting at +7 pips.

10:55am    The WTI Crude price has come down quite well although it is now starting to climb slightly so I am out with a +32 pip profit.

11:15am    Head office wants to go shopping this afternoon and for some reason take me with her (?) so I think that’s it for chart watching today – and this week.

My total pips in the past 5-days is 251 pips giving me +373 for December so far although not sure how much trading I will be doing in the run-up to the Christmas break.

08:30am   In and out of the house all day but any trades I do have will be reported below.

Market Update: Main news affecting the markets over the past 12-hrs was the U.S. Federal Reserve’s interest rate decision last night – they have raised the minimum lending rate by 0.25% to 0.75% and this is only the second rise in the last ten years. Probably of more importance was Janet Yellen’s forward guidance for next year and she is estimating another three rises for 2017 and on the back of this news, bond yields and the Dollar rose but equities took a hit although all the signs are for a partial recovery during today’s trading session.

Crude oil markets also had a volatile session after the weekly U.S. stock report showed a rise in levels ahead of the much hoped for production cut across most of the world. WTI Crude closed the day at $51.04 down by 3.7% although we have seen a slight rise this morning as bargain hunters come in.  Gold has also suffered as yields climb for other investments, it ended Wednesday’s session at $1142.90, losing $14.91 during the day and it is further down this morning at $1138.26.

There was no real enthusiasm for buying during the overnight Asian market and most indices ended in negative territory. The U.S. rate hike was largely priced into the market but the surprise was the amount of expected rises that are being predicted by the Fed for next year and this was the dampening effect across the bourses.

Trading Diary:

09:50am   Just entered a ‘short’ position on my Gold 15min chart, it’s a Master-The-Trend strategy-A pattern with a 12 pip stop loss. There is also a possibility of a trade on the oil charts in a moment if the price rises a few more pips.

10:00am    I am also now in a ‘long’ position on my WTI Crude Oil chart using a Master-The-Trend strategy-B pattern and a 21 pip stop loss.

10:15am   Trades looking ok, I will leave them to run without a target for the moment while I go off on a cycle ride with some fellow traders.

11:20am   Just got back indoors and seen the Gold price has ‘collapsed’ putting my ‘short’ position at +96 pips, so I have just closed it.  The WTI Crude trade is languishing around break even so I will leave that for a while.

12:05pm   Just noticed that my WTI Crude trade has been stopped out at -21 pips.

13:35pm   Out for late lunch

18:25pm    No more trades to report, played golf this afternoon.