Trading Diary & Market Update ~ Tuesday 26th September 2017

09:15am   I am planning a quiet day at home catching up on emails and doing some chart watching ahead of a 4- day break away for my birthday and any trades I find will be detailed below.  I have had a slightly later than usual start to my working day as the local BBC Radio station has been broadcasting outside my house this morning so I have only just got back inside.

Market Update:

Equity markets are being affected by the escalating war of words between the U.S. and North Korea with both the S&P-500 and Dow Jones 30 indices closing down around 0.25% yesterday. Tech stocks assisted in the drop and the Nasdaq was down 1% at one stage before recovering late in the session and there was also a late rally for energy companies plus jitters over the German election gave traders food for thought. The overnight Asian trading session continued the pessimism over the Korean situation and most indices in the region closed in negative territory although the Chinese Shanghai Composite did stage a late rally to finish up by 0.07%.

As you would expect, Gold staged a safe-haven rally yesterday off the $1292 support/resistance level and closed up $12.80 to close at $1310.40 last night although there has been some selling in the past few hours and the price has come down to $1306.30. There is a certain amount of resistance from the 20-day moving average so we could see further selling over the next few days. Crude oil has been bullish over the last 24-hrs as news emerges that Turkey may close the oil pipeline from Iraq which is the country’s only supply outlet with the rest of the world, it pumps out around half a million barrels a day. The concerns over this potential cut in supply gave Brent Crude a boost yesterday and it touched its highest level for 16 months at $59:47 and U.S. WTI Crude has now got to a significant resistance level at $52:00 once again where it has staged a small retreat – watch for trading opportunities !

Trading Diary:

09:55am     I have just taken a ‘long’ position on my German DAX-30 15min chart. It’s a Master-The-Trend Strategy-B pattern with a 18 pip stop loss.

11:25am    The price on my DAX-30 chart has really struggled to get any higher over the last hour so I have closed my position off at +31 pips.  There was a another similiar set-up on the GOLD chart just after 11am but I was outside with the builders at the time it triggered.  Off for a cycle ride now then some lunch at the local.

13:55pm   Back home now and I’ve just got into a ‘long’ position on my 30-min S&P-500 chart. It’s another Master-The-Trend Strategy-B set-up and my stop loss is 31 pips but now sure how long I will stay in the trade as this period of the day is a very volatile couple of hours.

15:00pm   The S&P-500 price seems to have got stuck slightly at the 2503.00 level so I am now out of my position at +32 pips giving me a day’s total of +63 pips which I am more than happy with so I am turning off my screens now for this session.

This is my last day of trading for the month as I am away somewhere for a birthday surprise although I will still be sending out my daily Trading-Guidance sheet very morning as this is very important for new traders who follow the service.  My score for September’s trading is +328 pips and if you want to replicate this performance just drop me a quick email.

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