I am spending the morning here in my home office watching my collection of favourite charts while catching upon emails and Skype calls before leaving after lunchtime for a long weekend break. After today’s short session I will be back in front of my screens next Tuesday.
08:20am Nothing to report on my charts so far this morning.
10:10am There could be a UTB pattern developing on the GOLD 15-min chart, we will know in 10 minutes.
10:20am The UTB pattern did materialise and the GOLD price has dropped sufficiently now to trigger a ‘short’ Master-The-Reversal position. My stop loss is a reasonable 12 pips.
14:25pm I’ve been in and out the house for the last few hours but I’ve just come inside and seen my GOLD position has done ok so I have just closed it off at +48 pips. We are off soon for a long weekend break so I am switching my screens off. Today’s result gives me a running total for this week (and month) of +190 pips. I will be back in front of my charts on Tuesday morning.
Today’s ‘Trading-Idea’ email is just about ready to be emailed out to subscribers and I am looking forward to a day in front of my screens.
08:25am Just taken a ‘long’ position on the 15-min German DAX-30 chart, it’s a Master-The-Trend Strategy-B set-up with a higher than usual 30 pip stop loss.
09:25am I have taken a quick +56 pip profit as the price has just hit the 12,100 ‘Big’ number.
09:40am Nothing much happening on the charts at the moment so I am off for a 15-mile cycle ride.
12:30pm I have nothing else to report for the morning session – off out for lunch now, back in an hour.
15:05pm There is still nothing to get excited about on my collection of favourite charts so I am turning my screens as I am being lured outside by the developing sunshine.
Hi everyone, over the past few weeks while away on holiday I have decided to change the format of my Trading Diary slightly. From now on there will no longer be a daily Market Update but instead I am sending a daily email out to customers and subscribers showing a ‘Trading Idea’ that will hopefully produce a nice profit for the session.
These daily ‘Trading Idea’ messages began today and if you are not receiving them please contact me at [email protected] and request that you are put on the list.
Once the new website is up and running I may try to publish the charts online. We are hoping the new site will be fully functional during October.
Although the format of this blog/diary is changing slightly, I am still continue to log all my trades on the days when I am in front of my charts so you can still read about all the positions I take. Normally I will be trading on Tuesday, Wednesday and Thursday as I like to take Monday and Fridays off to pursue other hobbies and jobs around the house.
Trading Diary:
10:10am I’ve had my screens on for an hour or so but no trading opportunities to report so far.
11:00am Off for a cycle ride withe the neighbours, back after lunch.
14:40pm I have just entered a ‘long’ position on my FTSE-100 chart, more details soon.
14:55pm The trade above is a Master-The-Trend strategy-B set-up with a 19 pip stop loss.
15:15pm Now out of my FTSE-100 position with a score of +20 pips.
15:50pm I am now in a ‘long’ GOLD position, it’s another Master-The-Trend Strategy-B pattern and my stop loss this time is 17 pips.
17:15pm Just taken a quick profit from my GOLD position, the price has shot up significantly in the last half hour and I have achieved a +66 pip profit.
17:20pm Switching off my screens now but will be back early tomorrow morning for some more trading. Total today +86 pips.
08:05am I shall be at home today working on this month’s Trading-Education eBook and I will also keep an eye on my collection of favourite charts as well. Any trades I find and place will be detailed below in my Trading Diary.
Market Update:
U.S. equity markets were in a bullish mood yesterday with the S&P-500 hitting an intraday high of 2873.29 which was higher than the previous record set at the beginning of this year, it settled finally at 2862.96 up by 5.91 points (+0.21%). This positive outlook was attributed to an economy that’s apparently booming despite ongoing global trade disputes and there is also cautious optimism regarding corporate earnings this quarter. The tech-centred Nasdaq Composite came within a whisker of its all time high during yesterday’s session, it rose 0.5% in the end to 7859.17 helped by substantial rises from Netflix and Micron.
The overnight Asian trading session was not as buoyant however and indices in the region closed mixed with both the Japanese Nikkei-225 index and the Hang Seng index finished up between +0.40% and +0.60% but the other major bourses closed in negative territory on ongoing concerns about Chinese/U.S. trade talks at the end of this week. Oil markets are being boosted by lower U.S. inventories and today’s official numbers release will confirm the situation. There is also the prospect of reduced output from Iran from November due to the upcoming renewed sanctions by Trump’s government.
Gold prices touched a one week high earlier this morning as the U.S. Dollar weakness affects the markets after President Trump criticized the Central Bank for raising interest rates and traders await this month’s Federal Reserve meeting minutes. It closed up $5.48 last night at $1196.13 but is suffering from some profit taking this morning and is now at $1193.30.
Trading Diary:
08:25am Nothing of note on my six favourite charts so I am starting my working day with a 20-mile cycle ride. Back in an hour and a half.
11:25am In a ‘short’ GOLD position, more details soon.
12:10pm Before I could post more details, my GOLD trade has been stopped out ! It was a Master-The-Reversals UTB pattern with a 15 pip stop loss.
14:00pm Just back from lunch and I have entered a ‘long’ position on my Brent Crude 15-min chart. It’s going to be a fairly quick trade I feel as the Crude Oil Inventory numbers are coming out soon which usually results in some volatile moves either up or down. My trade is a Master-The-Trend strategy-A set-up with a 23 pip stop loss.
15:10pm Price on my Brent chart becoming slightly more volatile as we approach the 15:30pm announcement time so I am now out of my ‘long’ position with a +28 pip profit.
15:25pm Switching charts off now – not sure whether we are out tomorrow so will confirm if I’m in front of my charts in the morning. Signing off with a +13 pip daily profit and going to play golf but back at 6pm to send out my daily “Nick’s Trades” results email.
08:55am I am planning for a quiet day at home, watching charts and working on this month’s edition of my Trading-Education eBook. Any trades I take will be detailed below in my Trading Diary.
Market Update:
Markets have started in a generally bullish mood with U.S. equities fairing well on the first trading day of this new week. The S&P-500 was up by 0.24% last night at 2857.05 (+6.92 points) and is now closing in on its all time high of 2877 that was reached in January, it has started today’s session in a bullish mood and should reach this month’s high of 2863.52 before the end of the day – currently 2858.55. This optimism is being led by traders who are upbeat about the forthcoming U.S./China trade talks and a general decline in worries over geo-political events.
The overnight Asian session was equally as upbeat with all the region’s bourses closing ahead for the day except for the Australian ASX-200 which closed down 52.11 points at 6383.01 after the release of the Reserve Bank of Australia’s August policy meeting where justification for keeping rates on hold was due to a more gradual improvement in unemployment and inflation than was originally hoped. Chinese indices were given a boost after regulators in the country suggested institutions should increase the level of lending to consumers and companies.
Oil markets are in contrast to global equities in that the price of U.S. WTI Crude is creeping up slowly this morning on pessimism regarding U.S./Chinese trade talks. It rose 25 cents yesterday to close at $65.42 and is up slightly further this morning. Brent Crude is moving in a similiar fashion and is at $72.63 this morning, ahead of yesterday’s opening level of $71.53.
Trading Diary:
10:15am I have just taken a short’ position on my WTI Crude Oil 15-min chart, it’s a Master-The-Trend Strategy-B (price action) set-up with a 22 pip stop loss on this occasion.
11:40am Quick cycle ride as there’s nothing much happening on my collection of six favourite charts.
13:35pm Back from lunch and noticed my WTI Crude oil has been stopped out. Forgot to mention earlier I placed a 25 pip profit level on the position as I was going to be out for quite a while.
14:10pm Now in another position on my 15-min WTI Crude chart. This time it’s a ‘short’ trade using the same Strategy-B pattern as earlier today – my stop loss is 24 pips.
14:45pm Just taken a quick profit on my 2nd trade as the WTI price has shot up in the last 20 minutes or so. My score on this position is +56 pips giving me an overall score for the day of +34 pips, happy with that so I’m switching off my charts now but will be back in the morning.
08:25am I am having day away from my screens today and will be back trading next Tuesday – I hope you all have a nice relaxing weekend break.
Market Update:
The markets are being driven at the moment by news that the U.S. and China are going to hold talks within two weeks in an attempt to halt the growing trade war between the two countries. The Dow Jones 30 index rose 396.32 points (+1.58%) yesterday to close at 25,558.73 last night, its largest one-day rise in 5 months and the wider S&P-500 index rose slightly less (+0.79%). This morning U.S. equity futures are still fairly buoyant, pointing to another bullish session to end the week on a positive note.
The overnight Asian trading session was equally as upbeat and most bourses in the region ended the day ahead with the exception of the Chinese Shanghai Composite which closed down by 1.33% at 2,669.10 as the Pharmaceuticals sector dragged the main index down. The Hang Seng was more upbeat however with tech stocks performing well, especially Tencent which had suffered earlier in the week but saw a rise of 3.25% earlier this morning as negative news became history.
Oil markets rose on Thursday despite pressure on prices caused by weakening global demand caused by a general slow down in economic activity. Brent Crude touched and reversed at a minor support line at $70.50 on Wednesday and Thursday and is now heading for the 20-day moving average around $72.50 so watch for a potential trading opportunities here.
09:20am Nice relaxed start to my trading day this morning and with wet, dismal weather forecast for the rest of the day I shall be indoors in front of my charts and also catching up on all the emails that have come in while I have been away. Any trades I take will be detailed in my Trading Diary as usual.
Market Update:
U.S. equity markets took a dive on Wednesday and ended down overall as the tech sector weighed heavily on sentiment after Chinese tech giant Tencent reported a fall in earnings and a relatively gloomy outlook. The S&P-500 finished at 2,818.37 down 21.59 points (-0.76%) and the Dow Jones 30 fell slightly less at -0.54% by the close last night.
The overnight Asian trading session began negatively after a poor U.S. showing earlier but regained some ground later in the day after China announced it was planning a new round of trade talks with the U.S. which according to official sources is happening within the next two weeks. Despite a bullish finish to most equity markets in the area, they all finished in negative territory with the South Korean Kospi and Chinese Hang Seng Index performing worst at -0.80%.
Oil markets continued their recent volatility through Wednesday’s session and was generally bearish with the global benchmark Brent Crude falling $1.40 by last night to close the day at $70.97 although there is some bullishness this morning on the U.S./Chinese proposal for trade talks. The markets is still pricing in rising production levels and lower global demand so many traders cannot see Brent rising above $73.00 in the near term which is close to its 20-day moving average.
Gold has had a rollercoaster fall for most of 2018 but we did see some selected buying overnight during the Asian trading session by bargain hunters as the price hit $1160. The U.S. Dollar is softening slightly and traders in London are reporting short covering is also pushing prices up.
Trading Diary:
11:15am It has been a quiet morning for price movements on my collection of favourite charts but I have now entered a’long’ position on my UK FTSE-100 15-min chart. It’s a Master-The-Trend Strategy-B set-up with a very reasonable 17 pip stop loss.
14:25pm Quick update as there’s not much happened on my usual charts today, I am still in my FTSE position and currently it is at -5 pips an there’s no other imminent opportunities on the horizon.
16:20pm Still nothing to report ! And still in my FTSE position (currently +12 pips)
17:25pm Eventually the price has risen in the direction I had originally predicted and I have come out of my position with a +25 pip profit.
09:30am Slightly later start today’s trading session after a very busy night in London – but I am planning for a quiet time in my home office watching charts and replying to emails. Any trades I take will be detailed below in my Trading Diary.
Market Update:
Markets are starting to shrug off concerns from the situation in Turkey and the U.S. equity markets closed slightly up on Tuesday evening, the S&P-500 closed at 2,839.96 (+18.03 pips) and the tech-centred Nasdaq index finished the session last night at 7,870.89 (+51.19). This positive sentiment was largely caused by the Turkish Lira bouncing off a 2018 low against the U.S. Dollar and rising over 8% on the day. Traders and bankers are realising that Turkey is not part of the EU or Eurozone monetary region so the fall-out from their economic situation is not really going to affect other countries in the region that much despite sensationalist press reports over the past few days.
The overnight Asian trading session was not as optimistic however with traders shrugging off positive U.S. market moves earlier. The Chinese Shanghai Composite index was the largest faller of the evening and ended down by 57.33 pips (-2.06%) and it seems that tech companies were the main drivers of this bearish sentiment but in Japan where the Nikkei-225 closed down by 151.86 points at 22,204.22 after oil and coal sectors providing most of the falls. Oil markets are continuing to fall this morning after yesterday’s volatile moves which ended last night with losses across both UK and U.S. markets on reports that weekly oil inventories are going to rise today when the official figures are released. Brent Oil experienced some sharp moves yesterday and moved in a $2 trading range before settling down by 61 cents at $72.93 after experiencing a bearish reversal at its 50-day moving average.
Gold hit a new 18-month low during early morning trading on Wednesday after the U.S. Dollar rose quickly on concerns that the Euro may be exposed to the problems in Turkey although as expected some of these fears are unfounded so both the Euro and the Turkish Lira are rebounding this morning. Gold was largely unchanged on Tuesday night at $1194.20 but is now trading at $1186.76 and looks to be heading for the minor support at $1140.
Trading Diary:
10:10am Just taken a ‘short’ position on my 30-min German DAX-30 chart. It’s a UTB price-reversal pattern with a 31 stop loss.
12:05pm I am now out of my DAX position with a +116 pip profit. Off for an early lunch now.
14:35pm Now in another ‘short’position, it’s a Master-The-Trend Strategy-A set-up on my 15-min FTSE-100 chart with a 10 pip stop loss.
15:40pm The FTSE price has come down nicely and I am happy with the progress of my position so I have just closed the trade off at+37 pips, giving me a total for the day of +153 pips. Time to switch off my screens I think….
08:20am Back from my short holiday and my plan today is to spend most of the day here at my desk catching up on emails and also do some chart watching from time to time. Any trades I take will be detailed below in my Trading Diary.
Market Update:
Markets were affected yesterday by the developing Turkish economic crisis which seems to have been kickstarted by the U.S. increasing tariffs on their steel and aluminium exports and Monday’s U.S. trading session ended down by around 0.50% with the Dow Jones 30 index closing at 25,187.70 (-125.44 points) which was its fourth negative day in a row but we can see some recovery this morning in European indices. The overnight Asian session ended mixed with the Japanese Nikkei-225 index bouncing back from earlier losses as traders shrugged off the potential global reaction of a plummeting Turkish Lira – it has fallen nearly 30% in August as traders worry about Turkish President Erdogan’s reluctance to raise interest rates even though the country is experiencing rampant inflation and a weakening economy.
Oil markets have been given a small boost after Saudi Arabia (through OPEC)has announced that they are cutting production from next month in an effort to avert a potential oversupply situation. Brent Crude closed flat at $71.15 last night after a fairly volatile session that saw the price bounce off a minor support area around $71.25 but it has risen in the last few hours to $73.28. Although equity markets have been falling this week, the Gold price has not really benefited and it ended down last night at $1194.43, a drop of over $18 on the day. We are seeing a small bullish move this morning as bargain hunters abound so watch for a rise towards the $1200 level.
Trading Diary:
10:45am I have just taken a ‘short’ position on my 15-min FTSE-100 chart. It’s a Master-The-Trend Strategy-B pattern and my stop loss is a heady 13 pips.
12:20pm Still in my FTSE position and I have brought my stop loss upto break even as it’s doing ok and I’m going to be out for lunch for the next hour or so.
13:30pm Back home now and my FTSE position is at +23 pips so I have closed it off as I’m unexpectedly going off to London shortly for a birthday celebration. Also switching off my charts now but back early tomorrow morning.
09:15am Today is my last day in front of my charts for 12 days as I am off on holiday tomorrow morning. Any trades I take though the day will be detailed below in my Trading Diary.
Market Update:
European markets closed mainly down on Wednesday after concerns over trade tensions trumped optimism over corporate earnings. Later in the day the U.S. markets ended their session negatively as well with the S&P-500 finishing down by 2.93 points at 2813.35 (-0.10%) and the Dow Jones-30 index was down slightly more but the tech-centred Nasdaq was upbeat on news that Apple could become the first trillion Dollar company in history.
The overnight Asian trading session was also negative by the close but this was caused mainly by worries that Trump will go ahead with a mooted 25% tariff on around $200 billion worth of Chinese goods that are imported into the U.S. The Federal reserve kept rates on hold once again (as expected) but have changed their view on the overall economy and now classifies it as strong so we can expect a possible rate rise at the Fed’s next meeting.
Oil markets have bounced with the help of bargain hunters after two days of negative moves after U.S. Crude stock surprisingly grew. Brent Crude staged a bearish reversal late on Tuesday at 75.75 and yesterday fell 94 cents to $72.61 and is further down after today’s Asian session at $72.29. There is a small support area around $71.00 so watch for trading opportunities if price reaches this level today/tomorrow.
Trading Diary:
09:50am I have jut taken a ‘long’ position on my U.S. WTI Crude Oil 15-min chart. It’s another UTB price reversal pattern from the Master-The-Reversal Trading System manual and my stop loss is 12 pips.
10:20am Out of one position and into another. My WTI trade has been stopped out at -12 pips and I have just taken a ‘short’ position on my UK Brent Crude 15-min chart. It’s a Master-The-Trend Strategy-B set-up with a 14 pip stop loss.
11:55am Just taken a quick +55 pip profit from my Brent Crude position giving me an overall score for the day of +43 pips. Out now for a cycle ride then some lunch.
13:15pm Back from lunch and thinking that I’m going to switch off my charts and finish trading for the day as I am more than happy with my day’s score so far. Back trading on Tuesday 14th August
