07:20am  Early start for me as I am off for a 20-mile cycle ride with a group of friends – back later this morning for some chart watching and catching up on emails

Market Update:

There were many confused traders yesterday as record high oil stocks in the U.S. failed to halt the rise in crude oil prices although a weak U.S. Dollar did help slightly. Comments by New York Fed Chairman Bob Dudley suggested that the FOMC might be slightly over ambitious regarding their timetable for interest rate rises in 2016/17 and this sentiment helped a late rise in equities in the U.S. plus Chinese and Australian markets overnight although the Japanese Nikkei 225 index fell by 0.85% by early this morning.

Gold is still enjoying the flight to safety during the current equity volatility, it rose over $14 yesterday to end above it’s 200-day moving average at $1142:50 although there is bound to be some profit-taking today so watch for a move back down to the $1130/$1135 level.

Trading Diary:

10:35am   Back from our cycle ride so shower now and then some emails and chart watching.

11:40am   I am now in a ‘short’ position on my Brent Crude chart – it’s a trendFX strategy-3 set-up with a stop loss of 32 pips.

13:05pm     Off to the Lord Nelson for lunch – I’ve closed my trade off at +39 pips ahead of the potentially volatile U.S. trading session open.

17:00pm   Not been trading this afternoon, had some jobs around the house to finish.

17:45pm    Just sitting here doing my ‘Nick’s Trades’ email to subscribers and I’ve noticed that the profit on my Brent Crude trade earlier was actually +63 pips and not what I stated earlier – sorry for the typo, I did not realise at the time what I had typed, probably in too much of a rush to get to the pub !

07:55am    Another relaxing morning here at home so any trades I have will be reported here – out at a Clay Pigeon shoot this afternoon in Norfolk.

Market Update:

The correlation between equity values and oil prices was prevalent once again yesterday with U.S. markets ending down as Crude Oil once again suffered falls with U.S. WTI Crude falling below the $30 level once again. Overnight the Japanese Nikkei 225 index ended over 3% down and the Australian ASX 200 fell just over 2.2% although Chinese equities faired slightly better – the Shanghai Composite closed down just 9 pips (-0.35%)

This negative sentiment would have pulled down the European trading session this morning but French, German and UK markets have opened largely positively together with S&P and Dow futures. Crude oil prices have also started to rise as bargain hunters moved in earlier this morning, the benchmark U.S. WTI is now averaging $30 per barrel over the past hour’s trading with UK Brent Crude even higher at $32:80 currently.

Gold is still benefiting from the volatility in equity markets, it hit a high of $1130 yesterday before hitting its 200 day moving average and falling slightly on profit taking   — it is currently sitting at $1125.66.

Trading Diary:

09:45am    There is a possible UTB trade setting up on my Brent Crude chart. Not much else to see on my collection of favourite charts currently.

10:50am   After quite a wait, the above mentioned opportunity has finally triggered and I am now in a ‘short’ position with an 18 pip stop loss.

11:55am   The Brent Crude price has reversed so my position has been stopped out at -18 pips.

Back in front of the charts tomorrow.

09:25am  Back home after a short break and not much planned for the day so I shall be watching my charts from time to time. Any trades I find will be reported here through the day.

Market Update:

Markets are generally bearish after a shaky start to the new month yesterday. Falling Crude Oil prices hit equities during Monday’s trading session and this sentiment carried on in the overnight Asian session. The Japanese Nikkei 225 index dropped 114 points to end at 17,750 earlier this morning as the initial excitement of negative interest rates wears off and the Hang Seng was similarly bearish, finishing nearly 150 points down.

European equities and U.S. futures are all negative this morning as well due to the drop in Brent Crude and WTI values, traders are waking up at last to the idea that fundamentals in the market have not really changed that much and any agreement to limit production between the larger oil producing nations is going to take time.  To add to bad news in the sector, BP have released earnings this morning which show it posted its biggest loss for 20 years — at minus $6.5 billion it is is greater than the 2010 figure after their Gulf Of Mexico oil spill. WTI Crude is currently sitting at $30:71 having touched the $35:00 level briefly a few sessions ago.

Gold is still benefiting from this general pessimism and rising steadily but has hit its 200 day moving average, so there has been some profit taking overnight during the Asian session. It is currently at $1125:10 having been as high as $1130:40 last night, its highest point since last November.

Trading Diary:

09:30am  Possible trendFX ‘short’ opportunity setting up on my FTSE100 chart.

09:45am   The FTSE price has gone down far enough to trigger the ‘short’ position so I am in the trade with a 22 pip stop loss.

1o:50am   The sun is out and I’m off for a cycle ride along the coastal path….

My FTSE trade is still trundling along in roughly the right direction but still only at +8 pips so leaving it running with original stop loss and 22 pip target.

12:35pm   Back now and FTSE-100 chart looking bearish again so I’ve taken the profit target off and moved the stop loss upto break-even as we go towards the (potentially volatile) U.S. trading session open. Could get a slightly higher profit if price drops in the next hour or so.

13:35pm   Going off now for a late lunch now so I’ve watching the FTSE100 chart in the last 5 minutes to close off my position with a reasonable profit – just done that and managed +32 pips

15:45pm   Was not really watching my charts but while having a Skype call with a new trader I glanced at the Gold chart and a UTB trade was setting up.  I am now in that position, my stop loss is 21 pips

17:55pm    Getting late for me to be sitting in front of charts — so just closed off the Gold trade at +37 pips.

08:25am    Away soon on a 4-day break so no trading today or Monday but I shall be back here on Tuesday morning.

Market Update:

Financial markets are expected to be quite bullish today after a surprise move by the Bank Of Japan last night, they introduced negative interest rates to try and stimulate corporate borrowing so expanding the economy so effectively they now have a 0.1% fee payable on bank and savings deposits thus encouraging people to spend or lend  rather than save.   This move was controversial as it divided the Japanese bank’s board by  5 votes to 4 in favour but the markets are enjoying it and the Nikkei 225 ended up nearly 3% at 17,515.30 (+476.85) with other Asian indices also finishing Friday’s session ahead.  UK and European indices have opened higher this morning with U.S. futures following suit at the moment.

The oil market is still enjoying a bullish move up and the U.S. benchmark WTI Crude reached a high of $34:80 during yesterday’s session although it has fallen back slightly this morning ($33:77 currently)  Although this recent move up has been due to rumours of a deal between Saudi Arabia and Russia on output, the fundamentals are still all wrong with high production, low demand and nightmare storage situation so the view is still quite bearish I believe.

08:30am   Quiet day at home today with not much planned so I will report any trades I have as they occur.

Market Update:

The Federal Reserve’s statement last night highlighted Janet Yellen’s ongoing worries about the world’s equity markets as her timetable for interest rate rises across 2016 now looks to be less certain. Four rises was her preferred pathway, but the March/April one looks shakey at the moment. U.S. indices fell on this news and the overnight Asian session was equally as bearish although Europe has opened this morning largely positively so far.

There was better news earlier in the day as Crude Oil prices touched a one-week high on continuing hopes that OPEC and Russian will come to an agreement on output to stabilise although traders seem to forget that when the larger producers cut their output, the U.S. shale companies can then increase their drilling, back to 2014 levels. When all this is put into the mix, there does not seem to be much hope of the Crude Oil rising much above the $35 level this year.

As mentioned in my ‘Trading-Guidance’ email earlier this morning, the Gold price on the daily chart bounced off its 200-day moving average so we may see a slowing in the bullish sentiment in the next week or so. The precious metal rose sharply after the Fed comments last night but has steadily given back the gains and this movement has formed a bearish reversal candle on its Daily chart.

Trading Diary:

08:55am    There’s a possible UTB pattern setting up on my S&P500 chart — there is also one on the FTSE100

09:10am    The UTB pattern on the S&P500 has not completed but the FTSE100 did so I am now in that ‘short’ position on that index with a 14 pip stop loss.

10:15am    Just for some amusement, I have now entered a ‘short’ position on my S&P500 chart. Why have I done this as the FTSE100 and S&P500 generally move in the same direction ? Good if the direction is correct but double losses if I am wrong !

10:35am    This second position I am now in is also a UTB pattern but the set-up has developed on a greater number of candles so for me it’s confirming my original thoughts as to the direction of the markets this morning, customers/traders who have this system of mine will receive a detailed explanation before I go off to lunch. My stop loss this time is 45 pips.

11:35am  There’s another UTB pattern that’s just completed on the WTI Crude oil chart but I am not too bothered about taking another trade, my two current ones are doing well enough — off out soon as well.

11:50am   I am off for a cycle ride now before going to lunch so as I shall be away from my screen as the U.S. trading session opens I have closed off both positions. I could have tightened my stops and left them but I am very happy with the scores achieved.  The S&P500 trade has come in at +138 pips and the FTSE one ended at +70 pips and this result today highlights one thought I have on earning money from the markets – always be content with small trade profits most days because once or twice a month you’ll have a big winner, it’s inevitable really.

15:05pm     Back from lunch but no more glancing at charts — very happy with score today.

08:55am   Relaxed start this morning after a very late night and no trading for me today I have golf match with three fellow traders at 11am, then into London late afternoon – back in front of my charts tomorrow.

Market Update:

Global markets have settled down slightly on the back of an improving Crude Oil price. There are rumours that senior OPEC officials are trying to meet their Russian counterparts to formulate a deal that would steady the volatile oil price and shore up falling values. This will not happen overnight, or within the next few months so yesterday’s WTI and Brent Crude reaction gives you some idea of how jittery traders are at the moment, any scrap of perceived good news will move the market quickly.

Today’s focus is on the Federal Reserve’s first rate announcement of the new year and while nobody expects another rise, the rhetoric will be interesting given the extreme volatility in the world markets since they raised rates late last year. Gold is enjoying the flight to safety from investors, the precious metal rose nearly $13 yesterday and is currently slightly down on last night’s close at $1117:50. The price on the daily chart is still closing in on it’s 200 day moving average, so expect a reaction when it finally gets there.

08:00am   Back in the UK and at home for most of the day with a few errands to run but may get to watch some charts inbetween. Any trades I have will be reported here.

Market Update:

There is a bearish slant to the markets this morning after a weak Asian session that was caused by a variety of factors including renewed selling in Crude Oil, the Federal Reserve announcement and failed Chinese government market intervention. Both the Nikkei 225 and the Hang Seng indices fell over 2% by the close but the main Chinese Shanghai Composite was the biggest loser by far, ending over 6% down on the day and falling to its lowest level for over a year – since the highs of 2015, this index is down over 20%. Earlier yesterday the People’s Bank Of China pumped over 360 billion Yuan (nearly $55 billion) in an attempt to prop up their equity market, but to no avail as can be plainly seen by this morning’s result.

The fall in Crude Oil values was mainly due to factors in the Middle East (once again) as Iraqi oil officials released larger than expected production figures for December plus worries over Iran’s post-sanction output. U.S. WTI Crude is now, once again trading under the important $30 level – currently at $29:78.  As equity markets fall, the Gold price is rising as expected and it is up at $1114.51 this morning after a positive trading session yesterday when it rose over 1%.

Trading Diary:

08:10am   While scanning my collection of favourite charts 10 minutes ago to compile the Market Update I could see a possible ‘short’ trade developing on my UK Brent Crude, and this price has now dropped sufficiently to trigger this position. It’s a trendFX strategy-1 set-up and I have a 24 pip stop loss – as the markets are just starting up here in Europe, this will not be a long trade as charts could be quite volatile.

08:25am  The Brent Crude price has hit its 1:1 target of $29:28 so I am out with a +24 pip profit. I will send over a chart screenshot to clients soon.

08:40am   Fancy a a cycle ride as I’ve not been on my bike since last Thursday.  Back in an hour or two.

10:25am   Back home now and just had a quick scroll through my favourite charts – no opportunities at the moment.

11:40am   A neighbour needs some urgent assistance with his roof restoration so no more watching charts for the rest of today.

07:25am   Early start for me today as I have a few things to clear up before I go off to Majorca for a quick visit this afternoon. Back here next Tuesday.

Market Update:

Once again there has been widespread losses during the overnight Asian session, and falls in the Japanese Nikkei 225 index has put it officially into a bear market as it has now dropped more than 20% from its 2015 high. This bearish sentiment has caused European futures pointing to a lower open in around 30 minutes even though U.S. equities staged a late rally last night after falls caused mainly by the continued drop in oil prices.

Brent Crude is now at a lower price than its American counterpart, currently sitting at $27:64 against the WTI Crude price of $28:10 and the 4hr charts for both commodities is still look quite bearish.  I am now looking at  $25:00 as the next support level for WTI Crude and we may see that this week after today’s U.S. Crude Oil Inventories announcement where a rise of  3.3 million barrels is expected.

Gold is still being affected by volatility in the Crude Oil and equity market and it enjoyed a $14 rise in value yesterday to $1100:70, the first time it has closed over the $1100 level this week and is currently sitting further up at $1103:04.

Trading Diary:

08:00am  Off for ‘bracing’ cycle ride, it’s -3 out there at the moment.

10:55am   Been back for a short while and there’s been no trade opportunities in the past 30 minutes so switching off my charts and getting ready for the trip. Back here trading on Tuesday.

08:10am  Day away from the markets today, I am heading out at 9am for a game of golf and then shopping in Norwich this afternoon. Back trading tomorrow.

Market Update:

Once again the Asian markets will be dictating the direction of the markets this morning. Overnight the Shanghai Composite and Hang Seng Index both fell considerably with the Japanese Nikkei 225 index has officially fallen into a bear market as it has dropped over 20% since the highs of last summer.

Concerns about the Chinese economy is at the top of traders thoughts as the government attempts to change the economy from  purely manufacturing to a more service centered one. They are doing quite well with the changeover plans but markets are still spooked due to the overwhelmingly large levels of debt still prevalent due to quick expansion over the last 10 years. If exports slow as the government would like, where is the foreign currency going to come from to service the debts ?

Crude oil markets are falling again this morning and the weekly U.S. stock situation may well spook the markets yet again as it is expected that latest numbers will show a build of over 3 million barrels in the past week.

07:35pm   It is -3 outside at the moment so I’m spending the morning here in the warm with my charts and inbox. Any trades will be reported below through the day.

Market Update:

Market news leads once again with Asia and their 2015 4th quarter GDP figures. Many commentators cite the 6.8% growth figure as disappointing and equity markets will no doubt react slightly but it is still way ahead of any western economy where we struggle to reach 2% per year. Asian markets seemed to have taken the news well with all main indices in the black at the moment and Europe has started Tuesday’s trading session mainly positive with the FTSE100 looking to gap up around 70 points on the open at 8am. the German Dax-30 index looks to be starting in a similiar way but still has a definitely bearish trend on the daily chart and has been heading for the solid support at 9300 for a while now.

Crude oil markets took a breather yesterday from their downward trend with U.S. WTI Crude ending the session very marginally up and today has also started positively with the U.S. benchmark sitting at $29:66 up from yesterday morning’s low of $28:61. Although Iran has warned of increased oil production it will be quite gradual during 2016 so they may not have an instantaneous effect on the price that many traders have expected.

Trading Diary:

07:45am   Over the past few weeks I have had almost a dozen emails from budding traders around the world who have asked what my day is like minute by minute as a full time trader, so I shall be compiling an exact diary during today and publish it tonight/tomorrow.

09:30am   Possible ‘long’ trade on my S&P500 chart.

09:40am   The S&P price has risen above 1909.70 so I am now in a ‘long’ trade using one of my trendFX set-ups. The stop loss on this position is 65 pips which reflects the larger price movements this morning after a day’s holiday and also I am using a slightly higher timeframe than usual.

10:20am    Now also watching my WTI Crude chart as well as there maybe a ‘long’ trendFX trade coming up if the price rises above $29:79 soon.

10:40am   I am now in my 2nd trade of the morning, the above mentioned WTI Crude position, my stop loss is 37 pips this time.

10:55am    Neighbour just arrived for cycle ride so set targets for both trades at 1:1.

12:20pm   Back from cycle ride and my trades still trundling along,both slightly in profit. I am off out for lunch with some fellow traders at the Lord Nelson so I’ve brought both stop losses upto break even as I shall be away from my screen during the potentially volatile U.S. trading session open.

14:10pm   I have now returned from a pleasant lunch and both my trades have been stopped out, so zero profit at the moment for today.

15:00pm    Just checked my charts and nothing to see at the moment.

15:30pm    Charts off now, that’s it for trading today. I have compiled a basic diary of my movements today but I shall write it up into something slightly more interesting than just the list it is now and send it out to email subscribers and any new traders who would like to see it. (Email me for a copy)