07:45am  ~  I have quite a lot of Skype calls today with people who’ve not traded yet but want to start, so I shall be around the house for most of the day so I will report back later with any trading opportunities as they occur.

Shares in Tokyo’s Nikkei index rose very slowly overnight as weak Yen gave large exporters a boost although subdued oil prices was depressing for energy shares and there was good news in China as optimism over its trade balance emerged yesterday after export numbers rose and imports fell. In Europe, Germany’s exports rose to an all time high boosting their trade balance – important news as Germany is an export-led economy – although this did not stem the continuing fall in the Euro which has been in a bearish trend against the Dollar since the beginning of August. U.S. indices are once again showing signs of exhaustion with both the Dow Jones and S&P 500 posting a raft of reversal candles over the past few days and Friday’s jobs numbers is hinting at a U.S. slowdown as we go into autumn. Over here in the UK there was a large reaction in the markets yesterday to a poll in the Sunday Times showing that Scottish independence is now looking like a certainty, companies exposed to Scotland’s economy were amongst the biggest fallers in the main London indices.

Big news in the oil markets yesterday was the fact that Brent Crude fell below the $100 level for the first time for over a year as on the back of news that China is importing less oil sparking a fear for a global surplus – this affected the U.S. WTI Crude values as well although there has been a rebound since yesterday evening but overall there is still a bearish trend on place.  One last note – watch Apple shares later today during their news conference that will be highlighting upcoming products.

Market Close Monday 8th Sept. 2014:  Dow Jones 30  -25.94 @ 17,1111.42  S&P 500  -6.17 @ 2,001.54  NASDAQ  +5.55 @4,095.47  FTSE 100  -20.33 @ 6,834.77  DAX 30  +11.01 @ 9,758.03  CAC 40  -11.56 @ 4,474.93

09:40am  ~  Not much happening on the few charts I have been watching fo rthe last hour – so I’m going to grab this opportunity to have a quick bike ride over to Walberswick and along the beach path to power station.

11:30am  ~  Just glanced at my charts as I switched them back on and if the Brent Oil price goes up slightly higher it will trigger a UTB trade.

11:40pm  ~  I am in a ‘long’ UTB position on my Brent Crude chart with a 25 pip stop loss.

12:25pm  ~  I need to help the builders for a while so I’ve come out of the Brent position –  and price has stalled for a while anyway so happy to be out, my score is +58 pips.

16:50pm  ~  My “Trade With A Day Job” system kicks off at 5pm UK time so I’ve just switched this laptop back on to watch the S&P500 for any possible set-ups.

17:15pm  ~  The S&P price has just reversed and given me a ‘long’ signal so I’m the market with a 21 pip stop loss.

17:55pm  ~  Just been stopped out of my position at minus 21 pips.  I still have a while until we’re due out for the evening so I shall keep watching the S&P 500 for any more opportunities.

19:05pm  ~  I am now in a ‘short’ position on the S&P  – with another 21 pip stop loss (coincidently !)

20:15pm  ~  We’re off out in a minute so I’ve closed off my 2nd trade – it’s ended up at +102 pips after the S&P has taken quite a tumble in the past 15 minutes.

Daily Target  +20 pips

Pips Achieved  +139 pips

07:40am  ~  Nice easy start to my trading week, I shall be hear in the study on and off today doing emails and looking at my charts every half an hour or so – plus I also have 5 Skype calls booked this morning with new traders looking to learn to trade. First of all though it’s a cycle ride over towards Halesworth to wake me up.

The big market news at the end of last week was the lower than expected number of jobs added to the U.S. economy which although is seemingly bad news but again we have the situation where it’s good for the markets as the feeling is that the Fed’s expected increase in the base lending rate will be delayed until well into next year, and this good for business in the form of cheaper borrowing.  All three major U.S. indices ended positively on Friday with the main S&P500 back above the important 2000 level but the Dow Jones does seem to be hampered by a rather strong resitance line at 17,150 which has held since July.  Here in the UK the FTSE 100 is expected to open lower on news yesterday that the Scottish campaign for independence has now moved ahead in the polls which traders now believe could be uncertainty for our economy once Scotland break away following the referendum in 9 days time as witnessed last night by the plunge in Sterling on the forex market.

Crude oil prices in the U.S. dropped in Friday afternoon trading with the value of WTI Crude falling over $2 as worse than expected jobs data gave rise to fears about the economy and so demand for oil may drop in the near future – over here Brent Oil followed suit and ended down at just over $100 by the close of the UK session.  With expectations that the Fed will keep their low interest rate on hold for longer there was a move towards Gold as an alternative investment and this sent this the price up over $7 by the end of the day to $1268.40 although a bearish trend is till in place and there’s support to watch for during today’s session around $1257.00

Market Close Friday 5th Sept1. 2014:  Dow Jones 30  +67.78 @ 17,137.36  S&P 500  +10.06 @ 2,007.71  NASDAQ  +23.79 @4,089.92  FTSE 100  -22.87 @ 6,855.10  DAX 30  +22.76 @ 9,747.02  CAC 40  -8.45 @ 4,486.49

09:40am  ~  Been watching my selection of charts since I returned back from a bracing cycle ride half an hour ago and and usual for a Monday morning the markets are taking their time in getting after the weekend break – however there does look like a potential ‘short’ on my Gold chart, so I’ll keep you informed. It’s a trendFX strategy 3 set-up.

10:00am  ~  The ‘short’ triggered a few minutes ago and I’m in the market with a 19 pip stop loss.

12:20pm  ~  Gold price still moving slowly so keeping the position going.

13:55pm  ~  Off out for some lunch at the Crown so set up a stop at break even and going to leave it to run as I’ll only out be for an hour

15:10pm  ~  Trade still running…..

16:35pm  ~  Happy with current score on the trade so I am now out of the market. I managed a profit of +133 pips.

18:30pm  - Back indoors and watching my S&P 500 chart.

18:55pm  ~   Now in a ‘long’ trade with one of my “Trade With A Day Job” strategies – stop loss is 16 pips.

21:05pm  ~  I have been out for most of the evening but have returned to see a small profit on my ‘evening’ trade.  The score has come in  at +45 pips.

Daily Target  +20 pips

Pips Achieved  +178 pips

08:25am  ~  A subdued start for me today after a late night at the Yacht Club and as it’s the first Friday of the month I shall not be trading today – as usual the markets will be quiet this morning ahead of the U.S. employment numbers that are out at lunchtime (UK time) – and there is talk of some clay pigeon shooting at 11am to keep me away from this laptop.

The big news in the markets yesterday was the surprise that the European Central Bank reduced their base lending rate to a record low of 0.05% to try and kickstart the EU economy – together with their version of money printing, the purchasing of private debt to try and stave off deflation.  There was calls for Mario Draghi to finally do something to prop up the Eurozone after months of waffle but this caught traders on the back foot and it obviously had a profound effect on the most heavily trading forex pair, the EUR/USD, it dropped over 230 points in just over 6 hours of trading.  Equities were also affected to the upside –  U.S. companies export to Europe in a big way so the S&P 500 index rose on the rate announcement but did fall back in later trading due mainly to energy producers reacting to falling Crude Oil prices.

With the Euro falling out of favour yesterday, the U.S. Dollar rose in value and this in turn created a march away from Gold in the short term so although there was an initial spike upwards at the start of the U.S. trading session – it then tailed off for the rest of the day and finished $8 lower at $1261. On the daily chart, there does seem to be clear sky all the way down to the $1240 level as it is now well below the $1268 pivot point.

Market Close Thursday 4th Sept. 2014:  Dow Jones 30  -8.70 @ 17,069.58  S&P 500  -3.07 @ 1,995.67  NASDAQ  -4.88 @4,066.13  FTSE 100  +4.39 @ 6,877.97  DAX 30  +97.77 @ 9,724.26  CAC 40  +73.07 @ 4,494.94

Daily Target  +20 pips

Pips Achieved – No Trading Today

07:25am  ~  I am off to Long Melford shortly to see a friend and trade with her today – I’ll report back later with any trading news (from either of us)

Asian markets overnight were subject to some profit-taking after good gains this week and traders will be waiting to see what the Bank Of Japan does later today in terms of monetary stimulus, although the market has to some extent price din a continuation of the massive money-printing exercise that’s been a feature of the Japanese economy for quite a while now. I mentioned in yesterday’s diary, the markets generally had a good boost mid morning yesterday on news that a ceasefire in Ukraine had been agreed although later in the day this was denied by Putin’s ‘people’ so the early gains were given back although most indices ended the slightly up except for the S&P 500 which is still hovering around the 2000 level, unable to make much headway at the moment.

After a large fall in WTI Crude on Tuesday, bargain hunters came back into the market yesterday and pushed the price back upto $95 on the back of a good economic outlook for the U.S. which will keep demand up and over here Brent Crude followed suit after bouncing off the important $100 level at the end of Tuesday’s session.  Gold had a sharp sell-off on the news that there was a ceasefire in Ukraine but the value then climbed gently for the rest of the day as traders realised the truth regarding the Russian Presidents game with the West – it finished the day just over $3 higher at $1269.20. There is a fairly strong pivot point at $1275 and the price seems unable to get above that in the short term.

Market Close Wednesday 3rd Sept. 2014:  Dow Jones 30  +10.72@ 17,078.28  S&P 500  -1.56 @ 2,000.72  FTSE 100  +44.41 @ 6,873.58  DAX 30  +119.47 @ 9,626.49  CAC 40  +43.54 @ 4,42.87

09:30am  ~  Got over here 30 mins ago and straight off I’m in the market with a ‘long’ position on my WTI Crude chart – again it’s a UTB pattern and I have an 18 pip stop-loss.

11:35am  ~  The upward momentum has temporarily subsided and also the internet over here has started to become slightly unreliable so I have come out of my WTI position with a +30 pips.

13:50pm  ~  Nothing much else has happened in the markets so we’re off to the Bull for some lunch.

20:05pm  ~  I’ve been home for a couple of hours and have been watching my S&P 500 chart for any “Trade With A Day Job” set-ups since 7pm but nothing has popped up so I’m calling it a day and going off to grab some dinner.

Daily Target  +20 pips

Pips Achieved  +30 pips

Week’s Total  +214 pips

07:45am  ~   I shall be at home all day today, I’ve meetings here this morning with council planners and architects – together with the normal (occasional) chart watching and emailing.  I am also going to spend a few hours getting on with writing my Trading Psychology book as well this afternoon which I started a few months ago. But before all that, it’s a bracing cycle ride with a neighbour along the coastal path up towards Benacre Broad.

Overnight the Japanese Nikkei index hit a 7-month high on the back of a falling Yen –  which is good news for exporters – and also a cabinet reshuffle for Prime Minister Shinzo Abe which is being perceived as pro-growth for the country. News that the Japanese Government Pension Fund is going to go directly into the market themselves and buy more domestic stock also gave a boost to its market. Even though there was upbeat manufacturing data released, last night both American indices finished down on the day, well off their recent highs as traders sit on the fence for the time being as there is a raft of economic news left to be released this week – European Central Bank and the Bank Of England meetings tomorrow, U.S. Non Farm Payroll jobs data on Friday plus a two day NATO meeting to try and decide what kind of weak response should be aimed at IS and Putin over the next few weeks. Traders are going to be reluctant to hold stock over the weekend as there is bound to be some surprises before the markets open again next Monday.

Continued concerns that European and Chinese manufacturing is slowing spilled over to the Crude Oil market yesterday with fears of a drop in demand sent the WTI Crude price tumbling down over $3 at one stage before bargain-hunters came into the market and started buying at the $92.65 support level – another good example of support/resistance trading.  Gold had a generally bearish day on the back of a strengthening U.S. Dollar and it fell through its significant $1275 support level, so the next stopping off point seems to be $1240 although increased warmongering by the Russian President should cause a resumption in buying for safe-haven purposes.

Market Close Tuesday 2nd Sept. 2014:  Dow Jones 30  -30.89 @ 17,067.56  S&P 500  -1.09 @ 2,002.28  FTSE 100  +3.866 @ 6,829.17  DAX 30  +27.99 @ 9,507.02  CAC 40  -1.40 @ 4,378.33

11:10am  ~  I have been distracted slightly this morning with the various ‘guests’ in the cottage but there’s not much that I’ve missed so far on my charts – it seems that a ‘faux-ceasefire’ agreement between Ukraine and Russia has got the markets excited so I’ll wait for them to settle down before I look again for any possible set-ups.

13:05pm  ~  There maybe a trendFX trade setting up on my Brent Oil chart — time will tell, I’ll see what occurs over the next few candles.

13:45pm  ~  Quite quickly that possible trade has turned into an actual (long) position and I am in the market with a 23 pip stop loss.

15:10pm  ~   Need to help a friend out down at the harbour quickly so I’ve closed off my Brent trade as I’m happy with the +73 pip profit.

16:05pm  ~  Back home now so I’m going to squirrel myself away quietly and get on with my trading psychology book and have half an eye on my charts and inbox.

17:15pm  ~  Just got into a quick (long) price reversal trade on the S&P 500 using one of the “Trade With A Day Job” set-ups  –  stop loss is a heady 18 pips.

18:30pm  ~  Just come out of my position (at +35 pips) and there’s another one setting up in the opposite direction it would seem.

18:40pm  ~  The S&P price has come down sufficiently to trigger a ‘short’ trade – and I have an 11 pip stop-loss.

20:45pm  ~  Out now of the 2nd trade of the evening – with a profit of +43 pips.

Daily Target  +20 pips

Pips Achieved  +150 pips.

08:20am UK time  ~  I am back in Suffolk this morning after my short holiday in Cyprus and will be concentrating on emails this morning together with quite a few Skype calls that have been requested since the end of last week. Some chart watching will be on the cards as well I would imagine.

As you’re probably aware the U.S. markets were closed yesterday for their Labor Day bank holiday so trading in Europe looked subdued to say the least. With the Japanese Yen trading at a 7-month low the Nikkei index ended the overnight session at the highest level since February on exporters optimism and will no doubt give European equities a slight boost this morning after the low volumes yesterday.  Over on the Foreign Exchange markets, the Euro continued its drop against the U.S. Dollar as the EU region continues to struggle with slow growth and mounting economic fall-out from the troubles that Putin is creating in Ukraine – which due to a reluctance to stand-up to him by EU leaders will only encourage Russia to eventually mount a full-scale invasion. Lacklustre manufacturing data out from various European countries yesterday will inevitably put pressure on ECB chief Draghi to announce some sort of stimulus (money-printing) package at the ECB press conference on Thursday.

Trading in Gold yesterday was confined in a tight range yesterday commensurate with overall market activity and at the close last night had formed a reversal candle on the daily chart, but there has been a sharp drop in early trading this morning following bullish Asian activity – the price has almost hit the short-term support level at $1273 so watch out for ‘long’ trading opportunities if it gets down to this point

Market Close Monday 1st Sept. 2014:  Dow Jones 30  Closed 17,098.45  S&P 500  Closed 2,003.37  FTSE 100  +5.56 @ 6,825.31  DAX 30  +8.86 @ 9,479.03  CAC 40  -1.31 @ 4,379.73

8:45am  ~  Not much happening on my charts at the moment so I am off out for a cycle ride towards Wrentham & Henstead.

10:10am  ~  Back at my desk here in the study and there are a few potential trades setting-up so I’ll report back soon.

10:35am  ~  I have just entered a ‘short’ UTB trade on my Gold chart (22 pip stop loss) and there is the early signs of a similiar trade on my Dax 30 chart.

11:25am  ~  Gold has spiked down quite quickly so I’ve been stopped out at -22 pips, although there is now a potential UTB ‘short’ on my Dax 30 chart.

11:45am  ~  The UTB on my Dax chart has triggered – I have a 16 pip stop loss.

12:55pm  ~  The Dax 30 has come down to the ‘large’ number of 9500 so I’ve come out of my position with a +56 pip profit.  Out to lunch now at the Harbour Inn with friends.

14:30pm  ~  Far away from charts this afternoon – I am going to help a neighbour rebuild his Austin 7 gearbox.

Daily Target  +20 pips

Pips Achieved  +34 pips

08:10am CET (7:10 UK time)  ~  No trading for me today – I am off on holiday at lunchtime until next Tuesday with my two sons – but I shall be doing a bit of emailing in the next few hours plus 3 Skype calls with new traders.

European markets are set to calm down slightly today after good gains so far this week – incursions into Ukraine by the Russian Army now looks like fresh invasion hopes for President Putin so traders are going to be factoring in some risk for equities and hopes for some sort of monetary stimulus for the Eurozone seems to have been premature according to German Finance Minister Schaeuble which means that markets may discount this and fall slightly as they factored it in last week.  There is also German Consumer Price Index numbers and employment levels this morning which will add some volume to the markets – and this afternoon there is U.S. Department Of Labor unemployment claims data and Oil Stock Levels at Cushing Wyoming to keep investors on their toes for the rest of today’s session.

With the U.S. Labor Day holiday on Monday signalling the end to the ‘Driving-Season’ there is an expected drop in demand for petrol which pushed WTI Crude price down on the day – it finished at $93.71 slicing 16 cents off its value.  Gold traders were buying yesterday – mainly on the back of a strong dollar but more due to rising tensions in Ukraine which escalated to such an extent that German Chancellor Angela Merkel got on the phone to her Russian counterpart and demanded an explanation about reports that Putin’s troops had deliberately passed across into Ukraine in an obvious act of aggression – as usual the Russian President denied any warmongering, explaining it was merely an ‘accident’.  Gold ended at $1283.60 up nearly $2

Market Close Wednesday 27th Aug. 2014:  Dow Jones 30  +15.31 @ 17,122.01  S&P 500  +0.10 @ 2,000.12  FTSE 100  +7.90 @ 6,830.66  DAX 30  -18.44 @ 9,569.71  CAC 40  +1.85 @ 4,395.26

Daily Target +20 pips

Pips Achieved – No Trading Today

07:55am CET (6:55 UK time)  ~  A day here at home before I am off on my annual holiday with my two sons tomorrow lunchtime – so I will report back later if I have any trades.  First of all it’s a a cycle ride with a neighbour over to Formentor.

The markets were generally bullish again yesterday with Europe still rising on the hopes that ECB chief Mario Draghi is going to start his money-printing exercise fairly shortly, although he has been saying he would help the Eurozone out of it troubles for the last two years so watch out for a sharp correction downwards at the first sign of hesitation from members of the Central Bank.   As you’ll see from the figures below, the U.S. S&P 500 index at last finished above the 2000 level after being higher for a lot of the day on the back of good economic numbers released yesterday and the Dow Jones index of top 30 companies did hit a new record high in intra-day trading before resting back slightly – overnight trading in Asia was also buoyed by this optimism.

The oil markets were helped by the encouraging U.S. durable goods orders and consumer confidence data out yesterday and West Texas Crude ended up on the day by nearly 50 cents – but over in the UK Brent Crude had a mixed day and ended slightly down after a few days of gains, it has formed a reversal candle on the daily chart so watch out for further falls below the $102.30 level. Safe haven buying seemed to behind the sharp Gold price rise yesterday morning although rises in U.S. equities later in the day plus a generally strong Dollar helped stem the enthusiasm later in the day and the price dropped to finish just above $1280 slightly higher for the day’s trading.

Market Close Tuesday 26th Aug. 2014:  Dow Jones 30  +29.83 @ 17,106.70  S&P 500  +2.10 @ 2,000.02  FTSE 100  +47.51 @ 6,822.76  DAX 30  +78.01 @ 9,588.15  CAC 40  +51.30 @ 4,393.41

10:50am  ~  Been watching my charts for an hour or so now after getting back from my cycle ride and there’s not much happening so far, it would seem that European markets are waiting for cues from the U.S. session this afternoon — time for a break to assist the builders outside.

14:05pm  ~  Just got back from lunch and I may have a UTB trade setting up on my Gold chart.

14:35pm  ~  A move below 12857 for Gold and I’ll be in the UTB trade.

14:45pm  ~  I am in the aforementioned ‘short’ position with a 21 pip stop loss.

17:40pm  ~  The bearish momentum on the Gold chart has subsided slightly so I’ve come out of my position with a +32 pip profit.

18:25pm  ~   I’ve just had a quick look at the S&P500 chart and there is absolutely no volume tonight so I shall leave it alone for time being.

Daily Target +20 pips

Pips Achieved +32 pips.

08:25am CET (7:25 UK time) ~  We got back here from Barcelona late last night so it’s going to be a slow start this morning – but I will be doing some chart watching while going through my emails this morning plus my usual cycle ride in the next few hours.

Although I missed it yesterday, I am pleased to see that that my favourite index, the U.S. S&P 500, eventually touched the 2000 level briefly early in the session before succumbing to a bit of profit taking and spending the rest of the day in a bearish trend. This initial rise for equities was no doubt due to Europe’s earlier rise following the European Central Bank’s President Mario Draghi eventually realising that the half-hearted policies he has used in the past have not been any use and on Friday he hinted that more exciting stimulus is needed to drag the EU region out of a possible recession and this will be instigated very soon apparently. This news also buoyed European equities, both the German Dax and French CAC ended in positive territory yesterday. All this good news was tempered by continuing geo-political problems in Ukraine with rumoured Russian incursions into the country together with the possibility of the U.S. planning the start of a bombing campaign in Syria — this also weighed heavily on U.S. markets and helped their indices finish slightly off from their highs.

Bears were prevalent in the oil markets yesterday with WTI Crude shedding 14 cents on the day due to U.S. Dollar strength and good production and stock numbers and is now getting closer to the major support level at $91:50. Brent Crude has also experienced a prolonged fall since the last week of June and is coming close to the significant $100 level.  Over on the Gold market I have noticed a small support level around $1275 from back in April/May this year and this morning it has bounced off that point again to rebound after yesterday’s losses – are there bargain hunters out today before the bearish trend resumes ?  Impending U.S. interest rate rises, higher equity markets and falling global demand are all conspiring to keep the value in check at the moment.

Market Close Monday 25th Aug. 2014:  Dow Jones 30  +75.65 @ 17.076.77  S&P 500  +9.52 @ 1,997.92  FTSE 100  -2.41 @ 6,775.25  DAX 30  +170.97 @ 9,510.14  CAC 40  +89.31 @ 4,3142.11

10:05am (CET)  ~  Just back from a quick cycle ride along the beach path and as far as my charts are doing, the only spark of excitement is a possible UTB pattern starting to develop on my Gold chart.

10:40am  ~  A few minutes ago I got into a ‘short’ position on my Gold chart – I have a 15 pip stop loss.

12:15pm  ~  I am still in my Gold position and it’s trundling along at +13 pips currently.

13:55pm  ~  I’m off out to lunch with friends so I’ve closed off my Gold trade at +16 pips as we are approaching the volatile U.S. trading session open.

19:10pm  ~  Just got inside after helping the builders for the past few hours and I’ve switched on my S&P500 chart to see if any “Trade With A Day Job” patterns pop-up over the next few hours.

23:40pm  ~  I did not have any trades earlier while I was watching my S&P 500 chart on and off upto 8:30pm

Daily Target +20 pips

Pips Achieved +16 pips

11:25am  (10:25 UK time)  ~  We didn’t get in from our night out until 3am this morning so it’s a late start for me today.  And not much trading either for the rest of the day for me though, we are off to Barcelona for a long weekend later this afternoon plus I’ll be assisting the builders as much as possible as it is a nice distraction from my normal ‘job’ of sitting in front of a laptop.

The main news in the markets today is the 2-day Jackson Hole symposium in Wyoming for the world’s Central Bankers that kicked off yesterday – and today the star of the show is no doubt Janet Yellen’s speech at 5pm (4pm UK time). Traders will be keen to hear her version of Mark Carney’s ‘Forward-Guidance’ as rumours abound regarding a U.S. interest rate hike sooner than next year and although these meetings are all closed to the press, there are always strategic ‘leaks’ throughout the day – her thoughts on the job market seem to be the main driver as to where the Fed’s interest rate should be.

Last night the S&P500 posted another record finish at 1992.37 – it got very close to the significant 2000 level during intra-day trading – with the Dow Jones 30 index following closely behind but not quite at a recent high. These bullish movements show that investors still do not believe that any sort of interest rate rise is looming on the horizon but tonight’s close will give us a better clue. Across at the commodities market, Gold traders are more bearish as equity markets rise and the value of the U.S. Dollar drops meaning the precious metal will be less popular as and investment. After a long move down, the WTI Crude had a volatile day as it dropped in early trading on weak Chinese manufacturing numbers but then recovered on optimistic U.S. data – it finished at just over $93 just ahead of the new support at $92:60.

Market Close Thursday 21st Aug. 2014:  Dow Jones 30  +60.36 @ 17,039.49  S&P 500  +22.18 @ 1,992.37  FTSE 100  -23.83 @ 6,777.66  

Daily Target +20 pips

Pips Achieved – No Trading Today