08:15am   Back in front of my screens today after a short break away and I’m planning a quiet day at home catching up on emails/Skype calls plus some chart watching through the day. Any trades I have will be detailed below.

Market Update:

The overnight Asian trading session closed mainly up despite a more pessimistic end to last night’s U.S. markets. The rising Crude Oil price assisted Asian stocks and has also helped today’s European session start positively, WTI Crude is staying above the significant $50 at the moment and I have just sent out a chart to subscribers showing a likely rise to around $50.80 in the next few days (email me for the chart if you’re interested)

This rise in oil is mainly due to a perception that crude stocks are not as high as expected for this time of year where demand is going to grow as winter draws close in the northern hemisphere and there is a perception that global oil supply is getting close to being well balanced as the year-long rise in inventories is starting to slow across most continents as we go into the coldest part of the year.

Gold has fallen significantly since August but it does seem to have reached a support around the $1250 level and as equity markets stall and the U.S. Dollar weakens we have seen some optimism for this safe-haven metal. It rose $3.91 during yesterday’s session to $1255:56 and is up further this morning at $1260:98.

Trading Diary:

09:15am     If the price rises on the German Dax-30 index above 10,598 in the next 30 minutes or so, it will trigger a ‘long’ trendFX strategy-3 trade.

09:40am    Now in the above position, my stop loss is 29 pips.

11:25am   Just come out of my Dax position (+39 pips) and got into a ‘long’ position on my S&P-500 chart, another trendFX  trade but this time a strategy-1 pattern. My stop loss on this trade is just 15 pips.

12:35pm  I was scrolling through my favourite charts a short while ago I noticed a UTB pattern on the Brent Crude chart – and that trade has now triggered so I am now in a ‘short’ position with a 22 pip stop loss.  The S&P-500 position is doing ok so I will tighten my stop to protect the profit so far as the U.S. trading session gets underway soon and see what happens.

13:50pm    Just been invited out for a cycle ride with some fellow traders so I have closed off my S&P-500 trade as it was sitting at an acceptable +50 pips but the Brent Crude UTB trade has not yet reached an reasonable profit so I have set a target of +22 pips and moved the stop loss upto -10 pips.

16:00pm    Back from my cycle ride (and lunch) and I can see my Brent Crude trade was stopped out at -10 pips, so the total for the day stands at +79 pips. Back in front of my screens tomorrow morning.

08:00am   I had an unexpected day away from my screens yesterday in Norfolk but back here in my study this morning catching up on emails and doing some chart watching before a trip away for a few days after lunch. Any trades I do have will be detailed below

Market Update:

The Asian market overnight ended mainly up after better than expected Consumer Price Index (CPI) data out of China earlier this morning – the consensus was for a rate of 1.6% year on year but the figure came in slightly up at 1.9%.   This slight optimism has helped this morning’s European session start positively despite the fact that U.S. markets closed down yesterday, the S&P index of the top 500 companies finished at 2132.55 (-6.63) and the narrower Dow Jones 30 was down a similiar percentage on continued concerns over a rise in interest rates which is looking more probable after Wednesday’s FOMC Meeting minutes.

Crude oil prices suffered a slight fall in values after this week’s  Crude Oil Inventories show a rise of 2.7 million barrels in U.S. stockpiles over the past 7-days although there has been a recovery over the past 24hrs and U.S. WTI Crude looks to heading back up towards the $51:50 level we saw at the beginning of this week.

 Trading Diary:

10:05am    We could see a trendFX trade trigger on this mornings FTSE-100 30-min chart if the price rises above 7027.

10:20am    I am now in the above mentioned position – it’s a strategy-3 pattern with a 17 pip stop loss.

12:45pm     Now also in a ‘short’ position on my UK Brent Crude chart, it’s a UTB price-reversal pattern with a 15 pip stop loss.

13:30pm   I’m getting ready for a 4-day trip away so I’ve closed off my Brent Crude position as the price has come down nicely and hit the $52:00 level which equates to a +32 pip profit and I am setting a take profit amount of +20 pips on the FTSE trade and leaving that running (currently at +4 pips)

I will be back in front of my chart next Tuesday – I hope you have a nice, relaxing weekend.

08:15am   In front of my screens from time to time this morning but out to London this afternoon – any trades I do have will be detailed below.

Market Update:

The focus of many traders today will be the Fed’s last meeting as the minutes of that get together will be released at 14:00hrs New York time – and it will give us clues as to what the FOMC’s policy will be concerning U.S. interest rates.

The Asian market ended slightly down with Samsung leading the bullish sentiment, the company have announced they will stop selling their flagship product, the Galaxy Note 7 smartphone after multiple battery fires. Their shares ended down over 0.65% after being almost 3.4% in the red earlier in the session and they have now cut $2.3 billion from their profit forecast to shareholders.

U.S. markets had a mainly bearish session on Tuesday after some disappointing results as the Autumn reporting season gets underway and this sentiment has transferred across to Europe this morning.  Gold has fallen to the fairly important $1250 level and over the past few days it has hovered around this point as investors wait to see what is going to happen in the equity markets – and the FOMC meeting minutes later today will give traders a push in one direction or other.

Crude oil markets overall are looking optimistic on hopes that both OPEC and non-OPEC members will eventually agree on production limits to aid the stabilisation of prices.  U.S. WTI Crude is almost at the $52 level once again this week, this resistance has been valid over the last year but price cannot get over it so watch your daily chart for any clues of bullishness (email me if you want some guidance)

Trading Diary:

11:10am    The only interesting opportunity I have found so far this morning on my favourite charts is a ‘short’ UTB set-up on my Brent Crude 30 min chart. The trade has now triggered and I have a 20 pip stop loss. As the weekly Crude Oil Inventories are released later this afternoon, the chart could become volatile so I will move my stop towards break even as soon as I can  to protect any profit.

11:35am   Moved stop loss to break even as the price has come down quite nicely.

12:25pm   Just noticed the Brent Crude price has shot up sufficiently to trigger my stop loss so my position is now closed at zero pips. I have also just noticed there could be a ‘short’ trade opportunity on my S&P-500 chart — more news soon.

12:40pm   Now in a ‘short’ position on the S&P-500 15min chart, it’s a trendFX strategy-1 pattern and my stop loss is 12 pips.

13:40pm   The U.S. trading session has been underway for the last 10 minutes and the usual volatility is apparent so I am coming out of my S&P-500 position at +38 pips —  more than sufficient for a day’s wages !

That’s it for my trading today, back in front of my screens at 8am tomorrow.

09:05am  Back in front of my charts this morning after a short break away and any trades I do have will be reported below.

Market Update:

The overnight Asian market ended mainly up with Chinese indices opening positively after their Golden Week holiday. One downside was Samsung shares, they closed over 8% down on continuing problems with their flagship phone. Mining stocks across the world are positive though and the Australian ASX-200 benefited from this optimism as it is heavily weighed in this sector.

Also looking bullish is Crude Oil values, the benchmark U.S. WTI Crude has eventually reached the $50 mark after positive remarks on curbs in production from both  the Russians and Saudi Arabia (unusually) and we could see the $50 level turn into support if OPEC talks transfer to action. OPEC would like to see strict production controls from their own members as well as the rest of the world.

The European session got off to a negative start this morning although it is picking up slowly  on the back of rising oil prices and latest U.S. Presidential polls indicating that Hilary Clinton has doubled her lead in the White House race over the last week, having Trump as President is not seen as a good idea for the world economy.

Trading Diary:

09:30am    No trades to report yet, off for a cycle ride.

10:45am   Got back a short while ago and I am now in a ‘short’ position on my Gold 15min chart  -  it’s a trendFX strategy-3 pattern with a 19 pip stop loss.

12:20pm   The Gold price has come down quite well but U.S. equities are starting to come down as well which could mean that the Gold price will advance slightly so I have just closed my ‘short’ position at +34 pips.

14:55pm    Back from lunch and happy with this morning’s score so no more trading for me until tomorrow.

08:10am    No trading for me today as it’s Non Farm Payrolls in the U.S. and I traditionally stay away from the markets as they tend to be quiet this morning in the run-up to the announcement at 13:30pm UK time and then quite volatile afterwards.

I will be back in front of my screens next Tuesday so I hope you all have a nice relaxing weekend.

Market Update:

Main news in the markets this morning is the ‘flash-crash’ of the UK pound overnight – and there many theories circulating across trading floors today as to why this has occurred but one favourite seems to be a ‘fat-finger’ trade where a large sell order was instigated by mistake and then various automated trading software noted the falling price and joined in on the bearish activity but another possibility was a Financial Times story that quoted French President Hollande commenting that the UK Brexit was not going to be an easy process.  The result was an initial fall of around 6% to a new 31-year low before it recovered.  The pound was already under pressure from renewed worries over the UK’s exit from the EU as Prime Minister Theresa May announced this week the timetable for negotiations but towards the start of the Asian session last night the currency experienced this dramatic fall but has now recovered and is now trading around the 1.24490 against the U.S. Dollar.

Equity markets in Asia suffered from the Pound’s fall and most indices ended down following on from a mainly pessimistic U.S. trading session yesterday ahead of today’s Non Farm Payrolls. Europe is opening negatively this morning although the London FTSE-100 is not bearish due to positive sentiment as around 75% of the companies in the index are exporters so therefore will benefit from the overnight fall in Sterling.

It seems as though the fall in the Gold value may be slowing slightly as it approaches the $1250 level, we may see this as a small support area – it is currently sitting at $1254:78.

Other news today is the monthly  U.S. jobs figure and traders will be watching the numbers more carefully than usual as they ponder on the timing for the Federal Reserve’s next interest rate hike – it is going to be an interesting day on the markets.

07:55am   After being out for most of yesterday, I am planning a fairly quiet day here at home catching up emails and Skype calls with new traders – any trading positions I manage during the day will be detailed below.

Market Update:

There’s a fairly positive start to the European trading session this morning after a bullish Asian finish with banking stocks leading the way and optimism over oil values. U.S. WTI Crude is almost at the significant $50 level after just missing it yesterday – although the 4hr chart is fairly oversold and looks as though it is ready for more bullish moves today. Yesterday’s U.S. Crude Oil Inventories showed the stock situation decreased by 3 million barrels, so they have had over a month of declines which has helped the general price rise – together with hopes for an OPEC production freeze. This morning oil futures have fallen slightly though as news emerges that Saudi Arabia has cut the cost of crude exports to Asia but we should see another test of the $50 level for WTI Crude.

Wednesday’s U.S. trading session ended up with the Dow Jones 30 closing 110 points higher due mainly to the energy and banking sectors although traders will be sitting on their hands until tomorrow’s Non Farm Payrolls announcement when clues for the Federal Reserve’s next rate move will become apparent.

Gold has fallen fairly dramatically this week as investors sell this traditionally safe-haven metal amid increasing expectations of a U.S. rate rise although the bearish momentum has slowed slightly after Tuesday’s $45 drop, yesterday’s session ended flat and this morning’s trading is looking as though further price falls are on the cards. The next price level looks to be $1250 – currently sitting at $1264.30

Trading Diary:

08:40am    I have a break now for a while in my Skype call list so I am off for a cycle ride along the beach path.  No trade opportunities so far this morning.

11:55am  Been back home for an hour and the only possible trading opportunity I have found is a potential trendFX strategy-3 pattern developing on the Crude Oil charts – more news soon.

13:20pm   I got into the above-mentioned ‘long’ position in my WTI Crude chart around 15 minutes ago as the price eventually rose above $49:87  - my stop loss is 26 pips.

14:40pm   I’ve been unexpectedly invited out for the afternoon on a ‘jolly’ so I have closed off my WTI Crude position as I’m happy with the +53 pips it’s achieved so far.

That’s it for trading this week as it is Non Farm Payrolls Day tomorrow – back in front of my charts next Tuesday.

07:40am   Quiet day at home with some chart watching now and again so any trades I have will be reported below.

Market Update: The overnight Asian market ended mixed after comments from Federal Reserve members yesterday hinted at a U.S. interest rate rise this year, most probably December – once the elections are done and the new president is settled in. The Nikkei 225 index closed slightly up although Australia’s ASX-200 finished in negative territory on commodity price falls and all Chinese markets are closed until next Monday due to Golden Week celebrations.

Gold experienced large falls during the European and U.S. trading sessions yesterday, it lost around 3% to hit a 3-month low at $1266.80 before rebounding overnight. The drop in prices has been expected on trading floors and was partly due to an expectation of higher U.S. interest rates later in the year and Goldtraders I spoke to last night expect some support around the $1250 level before a rise back up towards $1300.

Crude oil markets had a good Tuesday session on rumours of a larger than expected draw on U.S. oil stocks, we will know the exact figure later this afternoon just after the U.S. trading session opens. There has been a slow rise in values since mid-September, WTI Crude has jumped from $42:72 to this mornings reading at $49:11 and is now getting close to a possible resistance level at $50:00.

Trading Diary:

09:00am   Nothing much happening on my collection of favourite charts so I am off for a long cycle ride in the sun.

22:50pm   I have been unable to update this diary today for some technical reason but in the end I’ve no trades to report anyway, I watched my charts for a few hours upto lunchtime and then had the afternoon out playing golf. Back to the screens tomorrow.

07:55am   Looks as though everything is back to normal after the issues I experienced with my Metatrader platform yesterday. Any trades I have this morning will be detailed below, out on a long cycle ride this afternoon so I will not be trading all day.

Market Update:

The focus today is on Deutsche Bank shares and the UK pound – the German markets were closed yesterday for their Unity Day bank holiday so there was no trading in Deutsche Bank shares but as the European session starts in a few minutes the bank’s futures price is showing a rise of around 1.5% so far. It would appear that the initial fine imposed on the bank by the U.S. Department Of Justice is going to be negotiated down from the original figure and this is fuelling the share price rise although the Wall Street Journal is reporting that no agreement has been reached yet.

The GBP/USD forex pair is trading this morning just below its record low of 1.27961 which it reached a few days after the UK Brexit vote and is at its lowest level since the 1980′s. This comes as the London FTSE-100 index looks to be gaining momentum this morning and is ready to march over the 7000 level – the first time this has occurred since May last year.

U.S. interest rates are also in focus as traders get ready for the monthly Non Farm Payrolls numbers at the end of this week – an encouraging figure will raise the likelihood of a rise in December – after the Presidential Elections are over.

Oil prices have surged recently on talks of an OPEC output freeze although Iran are still keen to increase their own crude production and this has halted the bullish momentum in the last 12hrs.

Trading Diary:

11:05am    Been outside in the garden for the last hour or so but I’m inside for some Skype calls and I have also just managed a late entry on a ‘short’ UTB trade on my German DAX-30 chart. My stop loss is 21 pips.

12:20pm   The price on my DAX-30 chart seems to be reversing upwards and I am also off out to lunch soon so I have closed my trade off at +21 pips.  Back trading tomorrow morning.

09:20am    Back home after a week’s holiday although not sure how much trading I will be doing today as my charts are not working as they should be on my main computer for some reason, it seems to be a price feed problem that has appeared in my absence. I will update  later in my Trading Diary below if I can get them working.

Market Update:

While I have been away the markets seem to have been dominated by the Deutsche Bank story after a large fine was handed down to the German bank from U.S. authorities for their part in the 2007/2008 financial crash and misselling scandal. The news of this $14 billion fine caused equity markets in Europe to be put on alert but late on Friday it emerged that German authorities could have negotiated a smaller ($5.4 billion) payment with the U.S. Department Of Justice and this has caused a minor rally in equity markets although the exposure/risk to other banks is not yet known so expect further volatility.

As my charts are not working at the moment, I cannot see where they are currently in regard to the Deutsche Bank situation but I will hopefully get them going during the day so I will update you on the markets tomorrow.

Trading Diary:

13:15pm   I do not think there will be any trading today as I am still having problems with my price feed.  I have now put it in the hands of some ‘experts’ while I go to lunch, back in front of my charts tomorrow morning.

09:55am   Late Market Update today as I’ve already been out on a cycle ride in this morning’s glorious weather. Not much chart watching today as I am back out in the sun soon but first I will be sending out updates TRADE-ALERT sheets for my Triangle Trading and Trend-Line systems so if I do see any trade opportunities while doing that I will report the details below.

No trading next week, I am away on a short holiday although I shall be checking email every day.

Market Update:

The overnight Asian markets ended mixed this morning with Chinese and Japanese bourses mainly down after disappointing Central Bank announcements earlier in the week although the Australian ASX-200 did close slightly up on the day. Europe opened lower and PMI results released an hour ago has nothing to increase optimism as they mostly came in lower than expectations.

Yesterday’s U.S. trading session closed on a high with the Dow Jones Industrial Average ending around 100 points up and the Nasdaq closing on another record high as traders digest favourable economic data and also the Fed’s decision to keep rates on hold until December (probably)

Crude oil has enjoyed a good run this week on news of lower U.S. stocks and traders did take the chance overnight to book some profits which led to declines in the Brent and WTI Crude price – current WTI price is $45:51 although we could see some support around this level.

Trading Diary:

13:10pm    No trades to report as I’ve not been indoors that much so far today. Back trading on Monday 3rd October after my short break away.