10:15am   Slightly later than usual start to my trading day as I had an early morning cycle ride out in the sun but I am at home for most of the day catching up on emails and doing some chart watching from time to time so any trades I do have will be detailed below.

Market Update:

Quite a few markets were closed yesterday for the early May Bank Holiday but U.S. markets were trading and the main S&P-500 index closed the session slightly up (+4 points) and the Tech-centred Nasdaq had yet another record high.  The Dow Jones 30 index however showed a slight loss after volatile trading following falls in bank stocks when President Trump announced his team is looking into the possibility of breaking up the large U.S. banks during a Bloomberg interview yesterday.

There is not much news out of Asia this morning after many markets there were also closed for the Bank Holiday on Monday and had a fairly slow start as traders got back to their desks although there was high volume in the Australian ASX-200 after the Reserve Bank Of Australia held their minimum lending rate at the record low of 1.5%.  The European markets are experiencing a relatively bullish start to Tuesday’s session although the French elections are in focus for traders in some of the larger EU member states.

Gold had a previous support at its 20-day moving average but heavy selling yesterday has caused it fall below that short term support and it’s now heading straight down to the 50-day MA, it is currently sitting at $1255.44 and there is a strong possibility that it is now going to reverse once it gets to the next support at $1250 so watch the chart for trading opportunities.

Trading Diary:

11:15am  Just got into a ‘long’ position on my 15-min Brent Crude Oil chart, more details soon I have builders outside that are taking my attention at the moment.

11:30am    My Brent position is a Master-The-Trend Strategy-A set-up with a 15 pips stop loss.

12:10pm    Quick update  -  correction due to typo, I meant to write above that my trade is on WTI Crude NOT Brent Crude.

Anyway, out for an early lunch now and I’ve brought my stop loss upto -5 pips and I am placing my target at +20 pips.

14:05pm    In DAX-30 position and just noticed my WTI Crude trade has been stopped out at -5 pips while I’ve been out.

My DAX-30 position is a Master-The-Trend Strategy-B set-up with an 11 pips stop loss.

15:55pm    I have just closed my DAX-30 position with a +14 pip profit so I have a+ 9 pip running total so far today.  The index looks as though it could hit the 12,500 level later in the session but I am happy with my score and I have been indoors for too long – time for some gardening..