Trading Diary & Market Update ~ Thursday 6th April 2017
08:30am My plans today are to do some chart watching while catching up on emails and Skype calls so any trades I have will be detailed below.
Market Update:
Focus at the moment is on President Trump’s much anticipated meeting with Chinese leader Xi Jinping with trade and North Korea high on the agenda. Although no big decisions are expected, markets have been reacting negatively in advance of any breaking news from the conference and concerns over North Korea’s nuclear ambitions are growing as it is becoming obvious that the UN are just going to sit around and do nothing.
Other geopolitical issues are affecting sentiment as well with the Syrian conflict looming large as it puts the U.S. and Russia at loggerheads once again and markets are reacting negatively with U.S. equities ending Wednesday’s session largely down and overnight the Asian markets were similarly bearish with only the Shanghai Composite closing very slightly up.
Oil markets, as expected, had a fairly volatile session yesterday due mainly to increased trading volume after the U.S. Crude Oil Inventories. Stocks grew unexpectedly which had a negative effect on prices and WTI Crude ended the day down by 37 cents at $50.79 after enjoying a good run-up over the last couple of weeks from the $47 support level.
Trading Diary:
09:10am I have just entered a ‘long’ position on my Brent Crude Oil chart – it’s a Master-The-Trend Strategy-B pattern with a 19 pip stop loss.
10:15am Out of the Brent position, happy with +20 pips. Out for cycle ride now in the glorious sunshine, I will send out a chart screenshot to subscribers to the system when I get back.
11:45am I entered a ‘long’ position on my DAX-30 chart a short while ago, it’s another Master-The-Trend pattern as before and my stop loss is 11 pips.
12:40pm The DAX price has shot up quite well in the past 15 minutes and I have now closed off my position a +37 pips.
14:50pm Back from lunch and it’s too sunny to be inside so that’s my chart watching done for the day – happy with the +57 pip score today.