Trading Diary & Market Update ~ Tuesday 25th August 2015
08:40am Late start for me today although I have sent out my daily ‘Trading-Guidance’ email over an hour ago. I may have some trades to report later but I am in and out of the house for most of the day as I’ve a lot to organise on a personal level.
Market Update:
The overnight Asian session saw another fall for Chinese equities although Japan has staged a small rebound although many traders I’ve spoken to in the past few days have pointed out that a ‘correction’ in world markets has been overdue for quite a while and worries over China’s economy has caused investors to closely examine other countries indices – so I am not sure if we’ve seen the bottom yet although bargain hunters are out this morning in Europe with the German DAX 30 rising slightly in early trading (currently up 40 points) with the London FTSE 100 showing a 60 point rise on overnight futures levels (and up 2.2% on yesterday’s close)
It could be argued that Central Banks have fuelled the rise in world equities over the past 5 years with almost zero interest rates and money-printing exercises and market dynamics dictate that buyers need a rest and book profits – interesting times ahead for the next few weeks……
On the Crude Oil market the U.S. WTI Crude had another bearish day with the price hitting the $37:80 level twice during Monday’s session and it would seem that it is now heading swiftly to the 2009 $35 level. Here in the UK, Brent Crude has followed suit and hit a low intra-day of $42:20 although it has risen slightly this morning and is at $43:55.
Trading Diary:
09:05am Off out now for a few hours, nothing to see on my charts trade-wise at the moment.
11:25am Back home fifteen minutes ago and I am now in a ‘long’ position on the FTSE 100 index – it’s one of the trendFX system set-ups and my stop loss is 29 pips. There was a similiar opportunity on the German DAX 30 chart but this one looked better.
12:45pm Going out for some lunch, so I’ve closed off my FTSE position at the ‘large’ number of 6100 as I am more than happy with my +40 pip profit.