08:00am   I had an unexpected day away from my screens yesterday in Norfolk but back here in my study this morning catching up on emails and doing some chart watching before a trip away for a few days after lunch. Any trades I do have will be detailed below

Market Update:

The Asian market overnight ended mainly up after better than expected Consumer Price Index (CPI) data out of China earlier this morning – the consensus was for a rate of 1.6% year on year but the figure came in slightly up at 1.9%.   This slight optimism has helped this morning’s European session start positively despite the fact that U.S. markets closed down yesterday, the S&P index of the top 500 companies finished at 2132.55 (-6.63) and the narrower Dow Jones 30 was down a similiar percentage on continued concerns over a rise in interest rates which is looking more probable after Wednesday’s FOMC Meeting minutes.

Crude oil prices suffered a slight fall in values after this week’s  Crude Oil Inventories show a rise of 2.7 million barrels in U.S. stockpiles over the past 7-days although there has been a recovery over the past 24hrs and U.S. WTI Crude looks to heading back up towards the $51:50 level we saw at the beginning of this week.

 Trading Diary:

10:05am    We could see a trendFX trade trigger on this mornings FTSE-100 30-min chart if the price rises above 7027.

10:20am    I am now in the above mentioned position – it’s a strategy-3 pattern with a 17 pip stop loss.

12:45pm     Now also in a ‘short’ position on my UK Brent Crude chart, it’s a UTB price-reversal pattern with a 15 pip stop loss.

13:30pm   I’m getting ready for a 4-day trip away so I’ve closed off my Brent Crude position as the price has come down nicely and hit the $52:00 level which equates to a +32 pip profit and I am setting a take profit amount of +20 pips on the FTSE trade and leaving that running (currently at +4 pips)

I will be back in front of my chart next Tuesday – I hope you have a nice, relaxing weekend.