08:25am   My plan is to be at home for most of the day so any trades I take will be detailed in my Trading Diary below.

Market Update:

President Trump’s trade tariff threat did dampen sentiment in global markets at the end of last week but these fears seem to have dissipated as we saw reasonable gains yesterday in Europe and U.S. equity markets.  The Dow Jones closed up by 336 points (+1.37%) last night with the S&P-500 not far behind as traders and investors seem to be treating Trump’s latest trade tariff negotiations like any other business deal where he comes in strong and belligerent but then eases off as agreement looms – interesting times…

The overnight Asian trading session saw equities rally as traders followed the lead from the U.S. session om Monday. Most indices closed in positive territory with the Japanese Nikkei-225 index leading the charge with a 2.14% gain on the day as the Dollar gained against the Yen and helped exporters.  Oil markets had a fifth positive day in a row on Monday with U.S. WTI Crude rising $1.14 to $62.48 after the International Energy Agency (IEA) reported that global growth is going to rise over the next five years but OPEC output would rise more slowly which hints at oil value staying steady.  The IEA also estimates that U.S. shale production is going to supply much of the world’s upcoming crude demand so the lows that WTI has seen lately around $58.00 could be seen as support ?

Gold has found some limited support around the $1308 level and has moved up from there in the last few sessions but it seems to have faltered slightly around $1325 and has been moving down during Tuesday’s Asian trading session. The recent gains have been attributed to Trump’s threatened trade tariffs so we may see further selling as worries subside so watch for the price returning towards the $1308 level once again.

Trading Diary:

09:55am   Nothing to report trading-wise so off for a run.

11:30am   I am in a ‘long’ position on my 15-min GOLD chart, it’s a Master-The-Trend Strategy-B set-up with a 18 pip stop loss.

13:05pm    Lunch out with some neighbours is looming so I have closed my GOLD position off rather than leaving it running as the U.S. trading session opens. My score is +46 pips.

15:15pm     Just taken a second Master-The-Trend position, a Strategy-A pattern and it’s on the UK FTSE-100 30-min chart.  My stop loss is 16 pips.