07:15am   Just finished my daily ‘Trading-Guidance’ sheet and I am off for a quick cycle ride before settling back in the study for the morning catching up on emails.

Market Update:

Markets yesterday were marginally optimistic and U.S. equities ended slightly up after Apple and the health sector gained momentum although the S&P 500 is losing it’s direction slightly and needs some definite news to re-establish some sort of direction. The upcoming Fed meeting next week will confirm interest rates and no doubt there will also be announcement by the People’s Bank Of China regarding government meddling in their economy so although today will be relatively quiet, expect some decent moves by next Friday.

Crude Oil Inventories in the U.S. rose more than expected the price still rose as there is increased demand for petrol at the moment so stocks should not stay at current levels for long – WTI Crude rose $1:50 to end the session at $45:70 with UK Brent Crude also up slightly by $1:27 yesterday but has fallen back slightly this morning and is currently sitting down 35 cents at $48:35. After falls on Wednesday, there were plenty of bargain hunters out yesterday buying Gold and these investors/traders pushed the price up by just over $4 to end the session at $1110.75 but during the overnight Asian session it has resumed it’s bearish trend on the daily chart and fallen slightly to $1109:90.

Trading Diary:

08:30am    Just back from cycle ride which was cut short by a rare puncture (even though I have anti-puncture tyres) and I can see a possible ‘short’ trade setting up on my Gold chart – IF the price goes below $1109.50

08:40am   The price has dropped so I am now in a ‘short’ position on my Gold chart with a 22 pip stop loss. It’s a trendFX strategy-3 set-up.

13:30pm   The U.S. trading session is just starting to get going so the markets are getting slightly more volatile than they have been this morning so I have just come out of my Gold position at +32 pips. Happy with that for my day’s trading profit.