08:20am Quiet day planned here at home and no doubt there will be some chart watching from time time despite having weekend visitors arriving early. Any trades I take will be detailed as usual in my Trading Diary.
Market Update:
Although European equity markets ended the session bullishly yesterday the U.S. markets did reverse some early optimism to finish the day in negative territory as the second round of trade talks between China and the U.S. is not expected to be that fruitful according to President Trump. The Dow Jones closed down 54.95 points (-0.22%) and the S&P-500 and Nasdaq also finishing in the red but not by as much.
The overnight Asian session was dominated by U.S./China trade talks ad there does seem to be some renewed optimism regarding the negotiations so indies in the region mostly closed higher despite a muted start. The main loser of the session was the Australian ASX-200 which closed down by -0.11% where the materials and finance sectors dragged the market downwards despite healthcare and energy stocks being heavily bought.
Oil markets continue to perform well although many traders see the $80 level in Brent Crude as a high level this month, the price touched this minor resistance level early in the U.S. session yesterday before retreating back under the weight of sell orders but we may well see another attempt today. OPEC are still holding tight with their supply restrictions and traders also have one eye on looming Iranian sanctions which will also limit production into the world market.
Trading Diary:
08:45am Nothing to see on my collection of favourite charts at this early stage of the European trading session so off for a cycle ride.
10:10am Just taken a ‘short’ position on my S&P-500 15-min chart, it’s a Master-The-Trend Strategy-B set-up with a 12 pip stop loss.
11:15am I’ve got back indoors and just noticed my S&P-500 position has been stopped out at -12 pips.
14:05pm I am now in a ‘short’ position on my Brent Crude 15-min chart, the pattern I have used is the UTB Price-reversal set-up and the stop loss is 15 pips.
14:30pm Out of the Brent trade with a quick +32 pip profit – markets moving very quickly this afternoon.
14:45pm Switching off my charts now as I’ve been invited out for a game of golf but back around 6pm to send out some emails to customers with details of my trades today.
10:00am After being out for most of yesterday, I am planning to be indoors in my home office catching up on emails and doing some chart watching today so any trades I take will be detailed below in my Trading Diary.
Market Update:
Yesterday’s equity markets in Europe and the U.S. were generally bullish on the back of encouraging performances in the retail sector including UK company Ocado which has just announced a major deal with U.S. grocer Kroger. The Dow Jones 30 closed up by 62 points with Macy’s and Nike helping boost the performance of the index and the S&P-500 and Nasdaq indices also closed ahead after a negative start.
The overnight Asian trading session was mixed at best with traders concentrating on U.S./China trade talks and the upcoming meeting between North Korea and the U.S. Most of the major markets in the region were down this morning at the close although the Japanese Nikkei-225 index finished narrowly in the black (+0.53%) after disappointing Core Machinery Orders numbers announced earlier in the session.
Oil markets are holding firm after a good run up, many traders are expecting Brent Crude to fall now from the high achieved this week ($79.35) but already this morning there are optimistic signs that the UK benchmark will get to $80 before the close of the week’s trading. Morgan Stanley has raised its price forecast for the next 2 years to $90 per barrel and this is partly fuelling the buying of futures contracts.
Trading Diary:
10:40am I have just taken a ‘short’ position on my GOLD 15-min chart, it is a Master-The-Trend Strategy-A pattern with a 12 pip stop loss.
11:35am Just taken a quick +24 pip profit from my GOLD position as I have been invited out for an early lunch.
14:05pm Back home now and taken a ‘long’ position on my German DAX-30 30-min chart using one of the simpler Master-The-Trend patterns. My stop loss is 32 pips.
14:35pm As is usual at this time of the day, there is a fair amount of price volatility and the DAX chart’s movement is no exception so I have taken a minimal profit and come out of my position with a +32 pip profit.
16:00pm I am back home after a run and now I’ve glanced at my collection of favourite charts and there’s nothing much happening so I am closing the screens now. Back tomorrow morning.
08:00am I am in and out of the house all day but I will be watching my charts from time to time so any trades I take will be detailed below in my Trading Diary.
Market Update:
European markets closed mixed yesterday on disappointing earnings news although the gas/oil sector did provide a small lift and later in the day the U.S. equity markets all finished in negative territory. The Dow Jones 3o index was down by 193 points (-0.78%) and the S&P-500 and tech-centred Nasdaq Composite Index where down by a similiar amount and this fall was triggered mainly by a rise in the U.S. 10-year Treasury Bond yield which 3.09%, it’s highest level since 2011 but also some company results also caused a fall – Home Depot was a notable faller at -1.6%.
The overnight Asian trading session took its cue from the U.S. and most indices closed down and the Korean talks cancellation did nothing to excite traders either. The Chinese Shanghai Composite was the larges faller of the night, it fell 0.70% and the tech company Tencent fell over 1% which helped drag down the Hang Seng index by the close.
Oil markets are taking a breather after some large rises in the past few weeks, WTI Crude has experienced a long run-up since this time last year where it was sitting at $42.00 and hit a high of $71.92 yesterday before suffering some profit taking as news of oversupply swayed traders bias towards selling. The 20-day moving average is currently around $69.30 so this could be a target this week ?
Gold suffered a large $22.99 fall in value yesterday to finish the session at $1290.99 after U.S. Treasury Yields rose and the Dollar strengthened although there is some bargain hunters appearing this morning and the price has risen to $1295.93. We could see some resistance at $1304, the 200-day moving average.
Trading Diary:
08:45am Nothing to report trade-wise at the moment, going out for a run.
11:00am I am out now for a few hours so charts off and report back later.
17:10pm I’ve ended up being out all day so no trades to report. Back at my desk tomorrow morning.
08:50am Back in front of my charts today after a few days away, any trades I take will be detailed below in my Trading Diary.
Market Update:
European markets ended mixed on the first trading day of the new week as geo-political concerns remain in trader’s focus although the higher oil price through the day did help energy stocks. Later in the day, the U.S. markets closed ahead for the eighth day in a row as trade relations with China seem to be improving. President Trump has said he will help Chinese tech company ZTE get back into business and this is seen as a sign that U.S./Chinese trade relations will get back to ‘normal’ soon. At the close the Dow Jones 30 index rose 68.24 points to finish at 24,89941 (+0.27%)
The overnight Asian trading session had an overall negative bias although Chinese markets showed some optimism on the previously mentioned U.S./Chinese trade prospects. Banking stocks in the region were the only gainers overall but failed to lift the indices as car manufacturers, electronics and steel producers all weighed heavily on sentiment. Gold prices are on the declines once again after a brief lift at the beginning of last week, the price is currently back at the 200-day moving average ($1310) and we may see it go as low as the minor support at $1303 later today/tomorrow if equity markets continue to rise.
Oil markets are still benefiting from ongoing OPEC production cuts which have been reiterated in the past few days and looming U.S. sanctions against Iran has also tightened the market. U.S. WTI Crude closed up 71 cents last night to $71.17 but are slightly down this morning at $70.93 currently.
Trading Diary:
10:15am There’s been no trade opportunities so far this morning – off for a cycle ride now for an hour or so.
11:40am I have just taken a ‘long’ position on my U.S. WTI Crude 15-min chart. It’s a Master-The-Trend Strategy-B set-up with a 19 pip stop loss. The price is currently fairly volatile so not sure how long I will keep the trade open but I will watch the chart more than I usually do to monitor its progress.
12:00pm Closed my WTI trade at +22 pips as the price has risen quickly but the bullish momentum has tailed off slightly.
12:55pm In another ‘long’ oil position, this time on my Brent rude 15-min chart – details soon, just on a Skype call.
13:10pm The above trade is a Master-The-Trend Strategy-A pattern with a 13 pip stop loss.
13:25pm Now out of my 2nd trade of the day just a few minutes before the volatile U.S trading session open – the score is +31 pips so giving me an overall profit for the day of +53 pips. It’s now too sunny outside to stay indoors in front of these charts so I am switching them off now until tomorrow morning.
08:15am Planning another quiet day at home today so any trades I take will be reported below in my Trading Diary.
Market Update:
Equity markets around the world are in a bullish mood as energy stocks rise on the back of increased Crude Oil prices following the U.S. decision to pull out of the Iran nuclear deal. Both European and U.S. markets closed positively on Wednesday and the overnight Asian trading session ended on a high note as well after oil prices hit levels that we’ve not seen since 2014. There are concerns that U.S. led sanctions will limit the amount of oil Iran can export which will put a strain on global supplies and this is the main driver behind this week’s sharp rise in Brent Crude and WTI Crude values. U.S. WTI Crude ended Wednesday’s session at $71.18, up by $1.20 and is now at $71.45 although there is some evidence that profit taking is occuring in the past hour – Brent Crude is currently at the $77.60 resistance level so that may be a driver of sentiment.
The Gold price is holding steady and seems to have found some fairly solid support just above the $1300 level. It closed last night at $1312.50, down $1.90 on the day and there is some evidence this morning that a return to $1303 is on the cards although tensions in the Middle East will support values for the ext few days. I will send over an interesting chart to subscribers soon showing possible future direction for the commodity.
Trading Diary:
09:20am Just taken a ‘short’ position on my Brent Crude chart - more details in a moment.
09:30am My Brent trade is a Master-The-Reversal UTB Price-Reversal set-up on the 15-min timeframe with a 20 pip stop loss.
10:45am The Crude price has steadily dropped over the last 30 minutes but has suddenly become fairly volatile so I have closed my position off at +31 pips.
Off for cycle ride now.
16:35pm Since coming back from my cycle ride I’ve been outside in the sun so no other trades to report.
09:00am Back home and planning a quiet day catching up on emails and Skype calls plus some chart watching from time to time. Any trades I take will be detailed through the day in my Trading Diary below.
Market Update:
European markets closed flat yesterday as traders awaited President Trump’s announcement on his country’s deal with Iran and later in the day the U.S. equity markets showed a similiar ‘enthusiasm’ after the Dow Jones 30 closed up by a mere 2 points and the wider S&P index of top 500 companies finished down by 0.71 points after Trump said he was pulling out of the deal. Many commentators are aghast at this decision and many are predicting a new war in the Middle East as a result but people have short memories and this is typical of the way the Donald Trump works – he negotiates as a businessman not as a politician so there are more twists and turns to come with correspondingly sharp market moves, as having a business is not that easy to manage, and that’s why business owners use software like this instant paystub generator online to handle their workers, payrolls and more.
The overnight Asian trading session closed lower on Trump’s decision to pull out of the Iran Nuclear Deal and correspondingly higher oil prices which was caused by expectations that tensions in the area are going to increase and may have an adverse effect on crude production and supplies. Most sectors ended in negative territory across the region although energy companies were mainly up on the day as oil prices surged.
The perception that increased sanctions are going to be applied to Iran by the U.S. and will effect oil exports from the country for the rest of 2018 and this will cause a small amount of disruption in global oil supplies and Brent Crude is now at 4-year highs once again. It rose 45 cents yesterday to close at $75.83 but this morning it is racing forward and is now at $76.91. Gold rose slightly yesterday on U.S./Iran tensions but as traders look at the consequences and gain some clearance of mind, the price has fallen this morning, it is currently down $9.23 at $1305.75.
Trading Diary:
09:20am Nothing to see at the moment on my collection of favourite charts so I am off for a cycle ride in the sun.
11:35am I have just taken a ‘long’ position on my GOLD 30-min chart, it’s a UTB Price-Reversal pattern with a 17 pip stop loss.
12:40pm Now closed off my GOLD position for a quick profit, price is getting volatile for some reason. Score +45 pips and time for lunch out I am thinking.
14:10pm Sun still shining outside so turning off my screens for the day – back here tomorrow.
No trading today, I have extended my short holiday by a day but back in front of my charts tomorrow.
09:40am A relaxing start to my day and once again it is Non Farm Payrolls day in the U.S. so no trading for me, the markets are usually quiet in the run up to the job’s number announcement and then volatile afterwards. I will be back in front of my screens next Tuesday after the bank holiday weekend here in the UK.
Market Update:
U.S. markets experienced a volatile session on Thursday with the Dow Jones 30 index dropping over 400 points at one stage early in the day but then closed ahead by a slim margin of 5 points. The S&P-500 did not recover as well as its sister index and eventually closed at 2629.73, down 6 points on the day as traders adjusted their positions ahead of today’s U.S. jobs number report and also bargain-hunted as stocks were perceived to be cheap by many investors although the price did drop through the 200-day moving average briefly on the S&P and thi is received as a bearish sign so watch for further falls in the next few weeks.
The overnight Asian trading session was quite subdued and at the close the main markets were all in negative territory except for Japan which is closed for their ‘Greenery’ day bank holiday. Investors and traders were focusing on U.S/China trade talks where the U.S. seemed demanding excessive measures so any kind of agreement is deemed to be difficult to reach. Gold has bounced well off its 200-day moving average this week but this morning’s price action is suggesting a return to the MA as we witnessed a bearish reversal earlier today from the significant $1315 level, watch the chart carefully as there could be some interesting trade opportunities emerging.
Oil markets have experienced a modest gain in the past few days as concerns regarding further sanctions being imposed on Iran come to the forefront, U.S. WTI Crude reached a high during April of $69.50 but has been steadily declining since then and bounced off the $66.75 minor support earlier in the week and is now resuming the bullish trend.
08:45am Off to London for a couple of days but travelling by train this morning so will still watch my charts for any trade opportunities, any positions I take will be detailed below in my Trading Diary.
Market Update:
U.S. markets held up quite well to begin with yesterday but then sold off dramatically in the last few hours. The Federal Reserve kept interest rates on hold which was largely expected sighting inflation coming close to 2% as the main reason for their decision and this kept equity indices positive although the last hour of trading saw sharp declines and the Dow Jones 30 index closed down by more than 170 points (-0.72%) at the close last night.
The overnight Asian market ended mixed as traders concentrated on U.S./China trade talks, the Hang Seng index was the worst performer of the session, eventually closing down -1.34% (411.34 points) even through the main Chinese index finished ahead by 19 points. Oil markets are looking bearish now after an initial rise at the beginning of this week, Brent Crude rose to a new 3-year high on Monday ($75.60) before some profit taking brought the price down and it has continued to slip through the week due mainly to rising U.S. stocks and record production – price this morning is $73.41. News has emerged that the U.S. is now a larger producer of Crude the Saudi Arabia which is upsetting OPEC’s quest to limit production and prop up the price through 2018.
Gold has had a largely negative week despite equity markets struggling to rise, it has fallen from April’s high of $1365.22 to the minor support at $1300 which it touched on Tuesday night. It’s now at the 200-day moving average ($1310.0) so watch for trading opportunities.
Trading Diary:
10:30am I’ve taken a ‘long’ position on my WTI Crude Oil 15-min chart, it’s a Master-The-Trend Strategy-A set-up with a 15 pip stop loss.
11:45pm Just seen my WTI position has been stopped out at -15 pips.
14:10pm Now in another Master-The-Trend position, it’s a Strategy-B set-up this time – on the 30-min FTSE-100 chart. My stop loss is 13 pips.
15:45pm Having to switch my laptop off now for a while so I have closed my FTSE position off as it currently oscillating around the 7500 level and may go higher. My score has come out at +34 pips giving me total for the day of +19 pips. I will send out chart screenshots later to customers so they can see full details of the trade.
No trading today, I’ve encountered some computer problems earlier this morning so spending the day resolving those issues.
