07:00am  In and out of the house today with errands but I should have some time to do some chart watching so any trades I have will be reported here through the day.

Not trading on Monday so back her eon Tuesday morning.

Market Update:

Asian stocks have rallied overnight with only the Japanese Nikkei 225 index posting a loss on the last trading session of the week. Encouraging house prices and a new yearly high for crude oil prices have kept equities bullish although a strong Yen is weighing heavily on Japanese companies who wish to export their products.

In the U.S. the Dow Jones 30 index finished positively but more importantly reached its highest level of 2016 after 3 months of volatile trading and another bullish day for the wider S&P-500 index will see a similiar milestone reached. The rising crude oil price is helping this bullishness together with news that the Federal Reserve does not envisage more than a couple of interest rate rises this year.  The U.S WTI Crude price is now at a 2016 high, ending Thursday’s session just above the $40 level and is rapidly approaching the important 200-day moving average line on its daily chart so we may see a bearish reaction once price rises towards $42.

Trading Diary:

09:05am   Nothing much to see on my charts at the moment so going out for cycle ride for an hour or so.

11:30am   If the Gold price falls below $1252:70 it will trigger a ‘short’ trendFX trade.

11:40am   I am now in a ‘short’ Gold position, my stop loss is 32 pips.

12:35pm   Out of my Gold trade for two reasons – firstly I am off out to the pub for lunch with some fellow traders and also the Gold price is starting to reverse back upwards. I have managed a profit of +33 pips.

15:20pm   Back from lunch and just had quick glance at my charts – nothing much going on so I am finishing my trading for the day – I hope you all have a nice relaxing weekend.