07:20am   Just sent off my daily ‘Trading-Guidance’ email to subscribers and I shall be spending the rest of the morning here in the study catching up on emails and also doing some chart watching.

Market Update:

Traders in Europe and also further afield are now looking towards the outcome of Euro Group meetings to see whether a compromise can be reached with regard to Greece’s impending debt payment on Friday. Mario Draghi, Angela Merkel and France’s François Hollande have apparently put forward suggestions in private meeting with Greek officials that pave the way for an amicable outcome as long as Prime Minister Alexis Tsipras gives some ground which up to now has not been seen. It is widely accepted that if the EU, ECB and IMF give way too much with these Greek negotiations and are seen to let Tsipras off the hook as far as their repayment commitments in Spain, Portugal and Italy as well as any other problem countries that have not yet been investigated. An interesting week ahead…

Over in the U.S. the economic data released yesterday showed better than expected numbers in manufacturing and construction and this helped the main Dow Jones 30 index move up nearly 30 points by the close of business with the wider S&P 500 following closely behind – up 4.34 at 2111.73 and it does look as though the index may make further attempts at the recent highs it  reached a few weeks ago. Crude oil markets were quite quiet yesterday as many traders are sitting on the sidelines waiting for the U.S. crude stock situation tomorrow and the more important  employment numbers that are released on Friday.

Trading Diary:

10:10am   Just been out for a cycle ride but back now and going through some favourite charts – a few possibilities but nothing certain so far.

10:45am   If the price rises on my WTI Crude chart to over $60:79 it will trigger a ‘long’ trendFX trade.

11:05am    I am now in a ‘long’ position on my WTI Crude chart with a 22 pip stop loss.

12:40pm   Off out for lunch at the Lord Nelson so I’ve just closed off my WTI Crude trade at +27 pips as it could become volatile when the U.S. session starts soon.

14:30pm   Very windy — so going sailing !