Trading Diary & Market Update ~ Thursday 10th May 2018

08:15am    Planning another quiet day at home today so any trades I take will be reported below in my Trading Diary.

Market Update:

Equity markets around the world are in a bullish mood as energy stocks rise on the back of increased Crude Oil prices following the U.S. decision to pull out of the Iran nuclear deal.  Both European and U.S. markets closed positively on Wednesday and the overnight Asian trading session ended on a high note as well after oil prices hit levels that we’ve not seen since 2014. There are concerns that U.S. led sanctions will limit the amount of oil Iran can export which will put a strain on global supplies and this is the main driver behind this week’s sharp rise in Brent Crude and WTI Crude values.  U.S. WTI Crude ended Wednesday’s session at $71.18, up by $1.20 and is now at $71.45 although there is some evidence that profit taking is occuring in the past hour – Brent Crude is currently at the $77.60 resistance level so that may be a driver of sentiment.

The Gold price is holding steady and seems to have found some fairly solid support just above the $1300 level. It closed last night at $1312.50, down $1.90 on the day and there is some evidence this morning that a return to $1303 is on the cards although tensions in the Middle East will support values for the ext few days. I will send over an interesting chart to subscribers soon showing possible future direction for the commodity.

Trading Diary:

09:20am    Just taken a ‘short’ position on my Brent Crude chart  -  more details in a moment.

09:30am    My Brent trade is a Master-The-Reversal UTB Price-Reversal set-up on the 15-min timeframe with a 20 pip stop loss.

10:45am   The Crude price has steadily dropped over the last 30 minutes but has suddenly become fairly volatile so I have closed my position off at +31 pips.

Off for cycle ride now.

16:35pm   Since coming back from my cycle ride I’ve been outside in the sun so no other trades to report.

Trading Diary & Market Update ~ Wednesday 9th May 2018

09:00am   Back home and planning a quiet day catching up on emails and Skype calls plus some chart watching from time to time. Any trades I take will be detailed through the day in my Trading Diary below.

Market Update:

European markets closed flat yesterday as traders awaited President Trump’s announcement on his country’s deal with Iran and later in the day the U.S. equity markets showed a similiar ‘enthusiasm’ after the Dow Jones 30 closed up by a mere 2 points and the wider S&P index of top 500 companies finished down by 0.71 points after Trump said he was pulling out of the deal. Many commentators are aghast at this decision and many are predicting a new war in the Middle East as a result but people have short memories and this is typical of the way the Donald Trump works – he negotiates as a businessman not as a politician so there are more twists and turns to come with correspondingly sharp market moves.

The overnight Asian trading session closed lower on Trump’s decision to pull out of the Iran Nuclear Deal and correspondingly higher oil prices which was caused by expectations that tensions in the area are going to increase and may have an adverse effect on crude production and supplies. Most sectors ended in negative territory across the region although energy companies were mainly up on the day as oil prices surged.

The perception that increased sanctions are going to be applied to Iran by the U.S. and will effect oil exports from the country for the rest of 2018 and this will cause a small amount of disruption in global oil supplies and Brent Crude is now at 4-year highs once again. It rose 45 cents yesterday to close at $75.83 but this morning it is racing forward and is now at $76.91. Gold rose slightly yesterday on U.S./Iran tensions but as traders look at the consequences and gain some clearance of mind, the price has fallen this morning, it is currently down $9.23 at $1305.75.

Trading Diary:

09:20am    Nothing to see at the moment on my collection of favourite charts so I am off for a cycle ride in the sun.

11:35am     I have just taken a ‘long’ position on my GOLD 30-min chart, it’s a UTB Price-Reversal pattern with a 17 pip stop loss.

12:40pm    Now closed off my GOLD position for a quick profit, price is getting volatile for some reason.  Score +45 pips and time for lunch out I am thinking.

14:10pm   Sun still shining outside so turning off my screens for the day – back here tomorrow.

 

Trading Diary Update ~ Tuesday 8th May 2018

No trading today, I have extended my short holiday by a day but back in front of my charts tomorrow.

Trading Diary & Market Update ~ Friday 4th May 2018

09:40am     A relaxing start to my day and once again it is Non Farm Payrolls day in the U.S. so no trading for me, the markets are usually quiet in the run up to the job’s number announcement and then volatile afterwards. I will be back in front of my screens next Tuesday after the bank holiday weekend here in the UK.

Market Update:

U.S. markets experienced a volatile session on Thursday with the Dow Jones 30 index dropping over 400 points at one stage early in the day but then closed ahead by a slim margin of 5 points.  The S&P-500 did not recover as well as its sister index and eventually closed at 2629.73, down 6 points on the day as traders adjusted their positions ahead of today’s U.S. jobs number report and also bargain-hunted as stocks were perceived to be cheap by many investors although the price did drop through the 200-day moving average briefly on the S&P and thi is received as a bearish sign so watch for further falls in the next few weeks.

The overnight Asian trading session was quite subdued and at the close the main markets were all in negative territory except for Japan which is closed for their ‘Greenery’ day bank holiday. Investors and traders were focusing on U.S/China trade talks where the U.S. seemed demanding excessive measures so any kind of agreement is deemed to be difficult to reach.  Gold has bounced well off its 200-day moving average this week but this morning’s price action is suggesting a return to the MA as we witnessed a bearish reversal earlier today from the significant $1315 level, watch the chart carefully as there could be some interesting trade opportunities emerging.

Oil markets have experienced a modest gain in the past few days as concerns regarding further sanctions being imposed on Iran come to the forefront, U.S. WTI Crude reached a high during April of $69.50 but has been steadily declining since then and bounced off the $66.75 minor support earlier in the week and is now resuming the bullish trend.

 

Trading Diary & Market Update ~ Thursday 3rd May 2018

08:45am   Off to London for a couple of days but travelling by train this morning so will still watch my charts for any trade opportunities, any positions I take will be detailed below in my Trading Diary.

Market Update:

U.S. markets held up quite well to begin with yesterday but then sold off dramatically in the last few hours. The Federal Reserve kept interest rates on hold which was largely expected sighting inflation coming close to 2% as the main reason for their decision and this kept equity indices positive although the last hour of trading saw sharp declines and the Dow Jones 30 index closed down by more than 170 points (-0.72%) at the close last night.

The overnight Asian market ended mixed as traders concentrated on U.S./China trade talks, the Hang Seng index was the worst performer of the session, eventually closing down -1.34% (411.34 points) even through the main Chinese index finished ahead by 19 points. Oil markets are looking bearish now after an initial rise at the beginning of this week, Brent Crude rose to a new 3-year high on Monday ($75.60) before some profit taking brought the price down and it has continued to slip through the week due mainly to rising U.S. stocks and record production – price this morning is $73.41. News has emerged that the U.S. is now a larger producer of Crude the Saudi Arabia which is upsetting OPEC’s quest to limit production and prop up the price through 2018.

Gold has had a largely negative week despite equity markets struggling to rise, it  has fallen from April’s high of $1365.22 to the minor support at $1300 which it touched on Tuesday night. It’s now at the 200-day moving average ($1310.0) so watch for trading opportunities.

Trading Diary:

10:30am     I’ve taken a ‘long’ position on my WTI Crude Oil 15-min chart, it’s a Master-The-Trend Strategy-A set-up with a 15 pip stop loss.

11:45pm    Just seen my WTI position has been stopped out at -15 pips.

14:10pm     Now in another Master-The-Trend position, it’s a Strategy-B set-up this time – on the 30-min FTSE-100 chart. My stop loss is 13 pips.

15:45pm     Having to switch my laptop off now for a while so I have closed my FTSE position off as it currently oscillating around the 7500 level and may go higher.  My score has come out at +34 pips giving me total for the day of +19 pips.  I will send out chart screenshots later to customers so they can see full details of the trade.

 

Trading Diary Update ~ Wednesday 2nd May 2018

No trading today, I’ve encountered some computer problems earlier this morning so spending the day resolving those issues.

Trading Diary & Market Update ~ Tuesday 1st May 2018

08:55am   It’s a lovely sunny day outside so no chart watching indoors for me today – could be back trading tomorrow though…..

Market Update:

U.S equity markets closed on the last day of April on a negative note although overall they were up slightly on March’s close. The S&P-500 ended Monday’s session down by 16.81 points (-0.63%) at 2653.10 as it was dragged down by the telecoms sector after T-Mobile announced they were buying Sprint in a deal worth $26.5 billion.  The Dow Jones 30 index was also down but not by such a large amount, it finished at 24,223.23 (-0.36%) and the negative sentiment is continuing this morning in the futures markets.

The overnight Asian trading session suffered from low volumes as bank holidays were widespread but Japanese and Australian markets traded mostly higher despite the negative sentiment in the U.S. on Monday. The Australian Central Bank kept their monetary policy on hold with predictions of continued growth in the country’s economy after a period of stagnation in the last quarter of 2017.  Gold is on its way down to the minor support level at $1306 as equity markets start to resume their upward trend, it fell $8.43 to close at $1315.02 and is further down at $1309.78 as the U.S. Dollar strengthens.

Oil markets are looking optimistic as traders worry about upcoming Iranian sanctions which will affect supply in the region, Brent Crude ended Monday’s session at $74.65 (+$1.05) but does seem to have touched a high for the week so we could see some profit taking today – watch for trade opportunities as price could head for the 20-day moving average around $72.50.

Trading Diary Update ~ Thursday 26th April 2018

No trading today/tomorrow but will be back at my desk on Tuesday 1st May.

Trading Diary & Market Update ~ Wednesday 25th April 2018

07:55am   I am planning another quiet day at home so any trades I take will be detailed in my Trading Diary below.

Market Update:

U.S. markets experienced another bearish session as the Dow Jones 30 index closed off more than 400 points in the red after an initial flurry which saw the index rise by 130 points and then tumble over 700 points. Although earnings are coming in at or above expectations, traders are still concerned that higher interest rates later in the year will adversely affect future company profits. The S&P-500 and Nasdaq also fell significantly by last night’s close with Facebook, Alphabet, Netflix and Amazon all dropping over 3%.

This negative sentiment spilled over to the overnight Asian trading session, all the major markets closed in negative territory except for Australia and New Zealand that were closed for their Anzac Day holiday. The main news in the region was the revised offer by Takeda Pharmaceutical to takeover Irish drug maker Shire, although their shares dropped by 7% as investors voiced concerns over their ability to raise the capital required to mount this $64 billion bid.

Oil markets experienced a negative session on Tuesday with U.S. WTI Crude falling $1.24 to close at $67.67 despite analysts saying that the slump that began in 2014 is now virtually over and the prospect of higher prices are a firm prospect. Rising demand in Asian plus continued troubles in the Middle East region are main reason for a rise in values and OPEC’s production curbs will also help for the rest of 2018.  Gold is befitting from falling equity markets, it rose $5.80 during Tuesday’s session to close at $1330.30 after reversing at a minor support at $1332.00 although this morning it is down by over $6 already and heading to $1322.00 again – watch this level for trading opportunities.

Trading Diary:

09:25am    Nothing much to see on my collection of favourite charts so I am off for a cycle ride.

10:55am    Just taken a ‘short’ position on my GOLD 15-min chart. It’s a Master-The-Trend Strategy-A setup with a 14 pip stop loss.

12:55pm    The GOLD price has just hit $1320 and started to reverse upwards so I am now out of my position with a +40 pip profit.

14:40pm    Just got back from lunch and glanced at my charts – nothing much to get excited about so far but I am getting on this afternoon with the final pieces to my monthly Trading-Education eBook so I will keep an eye on the screens from time to time.  I have got some news about the two trading systems I have been testing each month in the eBook and I now have nearly 12 months back tested data that shows some surprising performances.

15:50pm   The main markets that I watch are quite volatile this afternoon so I am switching off my screens for the day.  Not sure if I am chart watching tomorrow, I have had a few invitations so we’ll see what the weather is like in the morning.  Happy with today’s total of +40 pips

Trading Diary & Market Update ~ Tuesday 24th April 2018

08:30am   Back home after a short break away and today’s plan includes some chart watching and catching up on emails – any trades I take will be detailed below in my Trading Dairy.

Market Update:

U.S. markets did not perform well on their first trading day of the new week, the Dow Jones has experienced a 4-day losing streak and closed down by 14.25 pips (-0.06%) although the wider S&P-500 did manage a tiny profit after a late flourish, it ended ahead by +0.01%. Tech stocks weighed the indices down with Netflix, Amazon, Google parent Alphabet and Facebook all closed in the red although companies that are reporting 1st quarter earnings are mainly showing good numbers but traders are reporting some concerns over increasing bank interest rates in the coming months.

The overnight Asian trading session was affected by the U.S. close although most markets ended ahead with the Shanghai Composite coming out as the best performer of the session at +1.97%. One of the only losers of the night was the South Korean Kospi index which closed down 10 pips as Samsung Electronics and chip maker SK Hynix both fell significantly through the session. Oil markets are still looking bullish as rising demand and a tighter supply situation impact on the price – UK Brent Crude is almost at the significant $75 level this morning after a good showing yesterday, it rose $1.01 to close last night at $74.75 but is slightly down this morning as traders take some profits off the table.

Gold closed at its lowest level for two weeks last night, it finished at $1324.60 (-$10.30) but seems to have found some minor support at $1322 so we may see a small move upto today as bargain hunters come in to the market. A rise in the value of the U.S. Dollar and year U.S. Treasuries has dampened demand for the safe haven commodity.

Trading Diary:

10:10am    Nothing on my collection of favourite chart so off for a run.

11:10am   I have just taken a ‘long’ position on my GOLD 15-min chart. It’s a Master-The-Trend Strategy-B set-up and my stop loss this time is 12 pips.

12:00 Midday   My Gold trade has been stopped out at -12 pips.

13:55pm   Now in another Master-The-Trend Strategy-B position, this time it’s on the German DAX-30 15-min chart with a 17 pip stop loss.

15:30pm    Now out of my DAX position with a score of +78 pips.  The price was struggling to go much lower than 12,500 so came out at a good level.  Finished for the day now, screens off until tomorrow morning.