08:00am   The plan is to be around the house for most of the day so any trades I have will be detailed below.

Market Update:

The overnight Asian market ended mixed earlier this morning although energy stocks have had a boost across the world due the Crude Oil price which seems to staying above the $50 level for longer than a few hours this time. With Janet Yellen’s speech out of the way, the markets are now taking time to settle down and find their own level so we will see in the next few days whether the U.S. indices march further upwards or reverse back down from current levels. The S&P 500 reached 2119 during yesterday’s session, a level not seen since last July so traders will be on alert now in case profits need to be taken and the price retreats back to the established support at 2082.

Gold is once again over $1252 this morning, a level not seen for a couple of weeks as investors pile in after A U.S. interest rate rise in June fades and July now looks unlikely now as well. I believe the UK referendum will also play a part because a vote to stay in the EU will boost equity markets at the end of this month and that could sway the Fed’s decision to raise rates in July – interesting times ahead…….

Trading Diary:

09:35am   Just got into a ‘long’ trendFX position on my Gold chart, I have a 13 pip stop loss which is quite small even for a 15min chart.

09:45am   Nothing much else on my favourite charts currently so off on a cycle ride for an hour or so. Not set a target for my trade, just kept my 13 pip stop loss.

11:10am   Back now and my Gold trade is still in profit and I shall leave it develop as I’ve noticed a pattern that tells me that the price could rise quite well in the next hour or so – there is a similiar pattern on the Dax chart so if you’re trading that chart this morning watch for more bullish moves soon.  I’ll send out a chart screenshot to subscribers later to illustrate what I am wittering on about.

13:05pm    Off out to lunch shortly so I have closed off my only position of the morning – the Gold trade has come in at +38 pips and the pattern I mentioned earlier worked out ok this time.

14:20pm   Back from lunch but going to help neighbour in his garage for a few hours so no more trading for me today.