07:15am  Just emailed my daily ‘Trading-Guidance’ sheet to subscribers and for the rest of the morning I shall be here in the study catching up on emails and doing some chart watching.

Market Update:

The global rally that seemed quite strong yesterday has now faded as Asian stocks suffered losses overnight which has spilled over to European equities on the open today.  China’s Shanghai Composite was the night’s biggest loser although Japanese and Australian equities were not far behind and so far this morning a sea of red numbers covers European markets  plus U.S. equity futures as well.

WTI Crude oil has staged a small rally over the last two sessions on hopes of cut in U.S. production levels but worries over Iran’s  post sanction increase in export has put a lid on any optimism, the index is down 60 cents in early morning trading with UK Brent Crude largely following suit.

In the currency market the British Pound suffered losses during yesterday’s session due to worries over a UK exit from the EU, it appears that London Mayor Boris Johnson’s exit stance has raised worries that a referendum vote in June could be tight and Britain leaving the European Union is now a real threat.

Trading Diary:

09:10am   There’s a possible ‘long’ trade on my WTI Crude chart, I’ll keep an eye on the screen as the next candle forms.

09:20am  A trade has triggered as the WTI price has just risen above $32:66 and my stop loss is 19 pips.  It is a ‘long’ UTB position on the 15min chart.

09:35am    Neighbour just arrived for a quick cycle ride so leaving trade as it is with stop loss level but no target yet, not sure how high the price may go.

10:30am   Just back and my trade is at -10 pips, it’s not really gone anywhere yet so I’ll have another look in 30 minutes or so – I have a couple of Skype calls now with new traders.

11:25am   Just finished a long Skype call and seen my trade is at +59 pips but I’ll hang on for a bit longer and see how far it goes up.

12:40pm    Off out to lunch with three fellow traders so I have now closed off my WTI position, it has managed +70 pips.

15:35pm   Possible short trade now on my Brent Crude  chart, just waiting t0 see if the price drops below $33.63.   There is the same opportunity on the WTI Crude chart but I’ll watch the UK oil one instead.

15:55pm    I am now in the above mentioned position on my Brent Crude Oil chart.   It’s a trendFX strategy-3 set-up and my stop loss is 48 pips.

18:50pm   I have a meeting with the builders in a minute in the pub so I’ve closed my Brent Crude trade off even though it’s not quite reached its target, it is very close and I am unwilling to let it run while I’m out on case it reverses back up without reaching its 48 pip target.   It has managed +45 pips, so +115 pips for the day.

23:40pm  ——   Just been invited to a clay pigeon shoot in Norfolk tomorrow so will be back trading on Thursday (25th)

08:25am  Nice relaxing day at home today so if I have any trades I will report them here.

Market Update:

Although Friday’s trading session was mainly subdued, last week as a whole was largely positive and the fall in prices at the end was mainly due to profit taking and this has been backed up after the overnight Asian session which is coming to an end as I write this. Chinese and Japanese indices are largely positive this morning and this optimism has spilled over to the start of the European session where the FTSE-100, Dax-30 and CAC-40 are all trading up at the moment – Germany’s main equity market was up nearly 40 points at the open and is looking at further bullish moves in the next few hours.

Crude oil is still quite bullish following last week’s news of a possible production restrictions by major players although the U.S. benchmark WTI Crude’s daily price chart is coming up a 50 day moving average resistance line while being overbought as well, so we could see some falls this week. UK’s Brent Crude is looking more bearish though as it has already reversed at the 50MA and is in a state of indecision this morning. Gold is staging a small bearish reversal at the moment after reaching a high of $1263 on the 11th February, it’s currently sitting at $1208:20 as strength in equity markets takes it toll on investment in the is traditionally safe haven asset.

Trading Diary:

08:50am   Just had a cursory glance at my group of favourite charts and there’s nothing much to get excited about as the European session gets going for the week so I am off for a cycle ride up the coastal path for an hour or so.

 11:15am   Just got into a ‘long’ position on my S&P-500 15min. chart — it’s a trendFX strategy-1 set up and I have a reasonable 20 pip stop loss.

12:10pm   I checked my MT4 platform a few minutes ago and noticed that my S&P-500 trade has just been stopped out so my score so far today is -20 pips.

13:00pm    There’s a possibility of another ‘long’ trade on my s&P-500 chart, this time on the 30 minute chart.

13:10pm   I am now in the above mentioned position, it’s another trendFX strategy-1 set-up but this time the stop loss is slightly higher at 33 pips mainly due to a higher timeframe.

13:25pm   Off out for a late lunch so target set at +33 pips.

14:40pm    Just arrived back from lunch to see my second S&P-500 trade has also been stopped out.  After two losses it is always to have a break for the day so charts off now, back tomorrow.

08:05am  Relaxing day at home catching up on emails and doing some chart watching from time to time.

Market Update:

Some pessimism has crept into the market after Crude Oil Inventories revealed that oil stocks in the U.S. are once again at record highs, there was a rise of over 2 million barrels for the week and the stock situation now stands at 504.1 million barrels. The close correlation that has developed between oil and equities in the past few months meant that the major U.S. indices ended Thursday’s session down and this sentiment carried over to the overnight Asian session which has just come to an end for another week. Oil companies and those associated to the oil industry make up a fair proportion of various equity indices so any pressure on the oil price will adversely affect their operating profits and by association, their share price.

Equities across the world have not had a bad week overall, so there’s also a fair amount of consolidation and profit taking as we reach the end of the 3rd trading week of the month. The U.S. S&P index of 500 leading companies has posted its best weekly rise of 2016 gaining over 50 index points so far – futures are sitting at 1923.18 at the moment and the Dow Jones 50 has had a similiar percentage rise.  The buoyant equity market has not had such a negative effect on the value of Gold as you may imagine, it is now at roughly the same level as it was on Monday morning, currently sitting at $1223:80. Interestingly, the weekly chart has bounced up against its 200-day moving average and is now retreating back towards the $1200 minor suppoort level.

Trading Diary:

09:55am   Nothing much to see on my collection of favourite charts so I am off for a cycle ride in the sunshine shortly.

11:00am   Got into a ‘short’ position on my FTSE-100 chart, it’s a trendFX strategy-3 set-up and my stop loss is just 14 pips.

13:30pm    Going for lunch so brought stop loss upto break even which will protect me while the U.S. trading session opens.

15:05pm    Just got back and my trade was at +46 pips so it’s now closed off and I finished with the markets for another week. I’ve only traded today and Monday this week but I have managed a total of +78 pips and no losses. I will send out a chart screenshot to customers in a short while.

07:50am  I had expected to be here at home today doing some admin and chart watching but I have to be in London for an unscheduled meeting at 10am so no trading now until tomorrow.

Market Update:

In Europe yesterday equity markets saw good gains on the back of rising Crude Oil prices following the news that Iran is falling into line with the Doha Agreement which seeks to limit oil production to January 2016 levels.  This announcement also caused a positive reaction in oil markets with U.S. WTI Crude rising just over $2 on the day to finish at $31:30 although it has fallen back slightly during the overnight Asian session. There is an obvious support level at around $30 level and the next few days price-action should confirm this – UK Brent Crude is also up, currently sitting at $34:60 after hitting a high last night of $35:14.

Asian markets were generally bullish during the overnight session with most indices posting gains of just over 2% except the Shanghai Composite which is struggling to stay in the black.  Rising Crude Oil values are the main reason for this optimism together with a fair amount of bargain-hunting as reported by a few brokers.

07:20am   Another early start for me today as for a second day I am helping a friend with some building work at his house. Back in front of my charts tomorrow.

Market Update:

Despite U.S. markets having quite a positive Tuesday after their long weekend break, the overnight Asian session was less than bullish. Both the Hang Seng and Nikkei 225 indices ended the day down but this sentiment has not spilled over to the European session this morning, botht eh German Dax-30 and UK FTSE-100 are slightly up on last night’s close.

News regarding the Crude Oil market yesterday of an agreement to limit production did not boost values as many had expected although when you delve into the reports it is obvious why this strategy is a half measure at best. Firstly we have Iran and Iraq who want to pump out as much oil as possible to help their economy after many years of wars and sanctions plus the limit that’s loosely been agreed to are January’s production numbers which were a recent record high, so a drop in the high crude stocks does not look likely and this at the end of the day has the greatest effect on the current price.

The gold price has suffered in the last few days as equities and oil prices rise but the bearish sentiment has come to a brief halt at the moment and is slightly up on last night’s close of $1201:00, it is currently at $1204:44 with the daily chart quite oversold hinting at further moves up this week.

07:35am   Early start for me today as I am helping a friend with some building work at his house for a few days. Back trading on Thursday.

Market Update:

Overnight Asian markets were generally bullish with the Shanghai Composite ending the session 3.31% up with the Hang Seng and Nikkei Stock Average also up although not as high as the main Chinese index. This optimism has spilled over to London this morning and the FTSE100 has gapped up at the beginning of today’s European session, currently sitting at 5870 up around 30 points over last night’s close.

With equities on the up at the moment, Gold is suffering and it fell 2.3% yesterday to $1208:40 with further falls overnight and it is currently at $1199:70, just under the significant $1200 level.  The rise in equities is part due to a bullish sentiment in the oil market. There is now a meeting planned between Russia and Saudi Arabia to talk about production levels and traders believe this will result in a cut which will ease pressure on prices. U.S. WTI Crude had a positive day yesterday and ended at $30:16 and this morning it’s up further at $30:88.

07:30am   An early start for me today as I have some errands to run in town before I settle down in my study for the rest of the day to catch up on emails and do some chart watching.

Market Update:

Although markets were fairly bearish last week, the overnight Asian market saw gains in the Japanese Nikkei 225 index (+7.16%) Hang Seng (+3.16%) and the Australian ASX (+1.64%) even though Chinese Import/Export data came in lower than expectations as the markets there got back to work after their new year lunar celebrations. This optimism has spilled over to this morning’s European session where all the major indices have gapped higher on Friday’s close with the London FTSE100 already over the 5800 level, well above its recently established 5600 support.

The Crude Oil market continues to provide a focal point for equity traders as the volatility spills over to share markets. Last week we heard rumours of back-tracking by certain OPEC members on production levels so we may see a cut in output soon and this news has caused some bullish sentiment in both U.S. WTI Crude and Brent Crude, pushing both commodities higher in recent days. The U.S. benchmark hit a low of $26:00 on Thursday bit has now recovered well and is sitting at $29:19 as I type this update. Brent Crude is even higher at $33:20 having hit a medium term support at $29:90 last Thursday although a low of $27:08 was seen towards the end of January.

Trading Diary:

08:00am    It’s always risky taking a trading first thing on Monday morning as the markets are opening over here but there could be a ‘short’ UTB trade setting up on my Brent Crude Oil chart – the trade will trigger if the price falls below $33:24 in the next hour or so.

08:10am   The Brent Crude price has just fallen quite rapidly so I am now in a ‘short’ position with a reasonable 25 pip stop loss.

08:50am   Just closed off my Brent position after a brief fall and rebound. I have come away with a +32 pip profit.

09:05am    Out now into town for an hour or so.

11:15am    Not much on my charts for the past half an hour, so out on a cycle ride then lunch afterwards at the Lord Nelson.

15:00pm     Just back from lunch and had a chance to scan my charts but nothing much happening so that’s it for my trading today. The lack of volume is mainly due to the U.S. President’s Day holiday.

08:05am   Back here after a short break due to strange virus that hit me on Tuesday afternoon. No trading today though, I will be back in front of my charts on Monday.

Market Update:

Since I’ve been away from my charts, there’s been quite a bit of movement/volatility in equity markets. The overnight Asian market has not really provided much optimism with the Japanese Nikkei 225 index has fallen over 4% to under the 15,000 level although the European session open is slightly more positive today.  Bloomberg News this morning has announced that global equity markets have now officially entered a bear market after falls since November 2015 – the U.S. S&P500 index weekly chart has fallen down to its 200-day moving average although at the moment it is using this MA as support.

The Crude Oil market has seen further falls throughout this week with U.S. WTI Crude falling to a new multi-year low of $26:03 although there has been a small bounce up this morning, it is currently sitting at $27:08.  Gold is obviously still taking advantage of trader’s concerns for a decent return and moves this week have seen a high of $1263:10 which is the best level since this time last year although small flurries of profit taking is showing up and the price has dropped to $1238:50 at the moment.

08:20am  Relaxing day at home today for me so I shall be glancing at my charts from time to time, if I have any trades they will be reported here.

Early start for a day in Norfolk tomorrow so next ‘Market Update’ will be on Wednesday.

Market Update:

After a fairly negative week for equities, there is still pessimism on trading floors as the European trading session is beginning to open.  Asian markets will be subdued as the Chinese Spring Festival and New Year celebrations take place for most of this coming week although the Japanese Nikkei 22 index has managed to post an encouraging 1.10% rise to 17,005 this morning.

The Gold price is still benefiting from the worries in equity markets, it is now at $1168:75 and closing in on the next resistance level at $1190/$1200.  There was a small amount of profit-taking during the quiet overnight Asian session but as Europe gets going the price is rising once again. Crude oil is turning bearish again, a resumption of the overall weekly/monthly trend that began last Thursday after the price hit a support just below $30 – U.S. WTI Crude is currently sitting at $30:99.

Trading Diary:

08:55am    European equity markets are falling quite rapidly this morning and this is affecting U.S. futures as well and I can see a possible trendFX trade setting up on the S&P500  —   if the price drops further on the 9am candle a trade may trigger.

09:10am   The S&P500 price has just fallen below the trigger level at 1880:90 so I am now in a ‘short’ position with a 51 pip stop loss.  This higher than normal figure is reflecting the relative volatility in equity markets this morning.

10:20am   All equity markets are down on average 2% this morning and this sentiment has meant a good profit for my S&P500 futures trade.  I have just closed off the position at +245 pips as the price has hit and bounced off the 1853.20 level twice in the last 30 minutes.

10:25am    Off for a cycle ride now as the wind speed rises upto 50mph, I shall send subscribers a chart screenshot of the S&P trade when I get back.

11:40am   Back now and just seen there’s been a few UTB ‘long’ trades that have triggered on a some equity charts in the last 30 minutes or so.  I now have 3 Skype calls then some lunch out with four trader friends so no more chart watching this morning.

14:35pm  Back from lunch but probably will not worry about watching any charts this afternoon – happy with my score so far today.

Away in Norfolk all day tomorrow on a Track Day so back trading on Wednesday.

07:30am   Just sent off my daily ‘Trading-Guidance’ information email to subscribers so that’s it for trading today as I never watch or trade the markets on U.S. Non Farm Payrolls Day – back here on Monday.

Market Update:

Markets were subdued overnight ahead of the monthly Non Farm Payrolls announcement in the U.S. today and expectations are for another rise although not as much as December numbers that came out a month ago.   U.S. equities had another volatile day on Thursday but in the end the leading Dow Jones 30 index ended just shy of  80 points ahead but that gain has not translated into any optimism here in Europe this morning, with most indices starting fairly flat in the past half an hour.

Crude oil values attempted further rises yesterday but in the end both WTI and Brent Crude ended weaker on the day with further falls this morning so far, UK Brent is currently sitting at $34:22 having reached a high of $35:78 during Thursday’s session.  Good luck in the markets today if you’re trading !