Thursday, August 22, 2013

Major Futures Markets Day Trading Strategies

Crude 60-Minute
Crude Oil is at its wedge lows right now. These are newly formed wedges so they have yet to be confirmed. I will be looking long back to the BMT at 105.67 and higher to the wedge highs. I will also be looking short further down past the 103.50 - 103.43 are for the next buy zone further down.

Euro 60-Minute
The Euro came into the BMT at 1.3338 and pushed a bit lower below it towards the wedge lows. Not only that but we are also in yet another TZ Buy Zone on the 60-Minute chart. I am looking to buy this back up to 1.3357 first and then to 1.3429 - 1.3454 wedge highs. If we do push lower I will be looking short to the wedge lows and then for a reversal to buy once more in that area.

Gold 60-Minute
Gold FOBO'd the previous small wedge once it got to about 75-80% completion and blew off BOTH sides. This created a new wedge formation that we are only 50% or so through. Now we have a bit more time to trade this range. I am looking to buy the lows of the wedge and sell the highs. I would really like to see a blow-off to the BMT below at 1352.3 before taking a sharp rise back up to the highs.

Russell 60-Minute
The Russell is trading in the very middle of the current wedge. I will be sitting on hands until we can get a bit better market movement. I would like to see this push up to the wedge highs with a bit of a blow-off to the swing high and BMT at 1029.6 - 1030.2. Once we reach those highs I will be looking short back to the wedge lows and possibly lower to the swing as well at 1013.4.

Come join us in the room and see how we do it!

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