Tuesday, September 10, 2013

Major Futures Markets Day Trading Strategies

Crude 60-Minute
Crude Oil has rejected the wedge highs as well as falling below the BMT at 108.33 with a SOLID close below that level. I am looking to take this further short to the wedge lows and possibly even further to the larger wedge lows below that. If we move higher I will also be looking for long trades back to the wedge highs if we catch any buying as me move further down towards the wedge lows as we are in buying zones at the moment.

Euro 60-Minute
The Euro is failing from the wedge highs and beginning to push lower. I am looking to push this lower to the BMT first at 1.3220 and further down to 1.3166 and then finally to the wedge lows. I will consider longs while we are above the BMT as well for a potential push higher to the larger wedge highs further above. We may also have a quick blow-off to the highs at 1.3276 - 1.3281 so I will be watching those areas as well.

Gold 60-Minute
Gold has been pushing lower since yesterday afternoon and is now nearing the lows at 1358.8. I am looking initially short for a market drop to those lows but will be looking to go long at a bounce in that area back to the wedge highs for a potential double bottom. I would really like to see a bit of a push below the 1358.8 for a stop run before moving back up.

Russell 60-Minute
The Russell has been an absolute ROCKET to the top side the past few days and hasn't even had so much as a pullback. I will be cautiously looking for longs further up but will expect to see a pullback soon. This market is VERY over-extended to the up side. As we are this far up, I will also be looking for short term selling opportunities as profit taking should start to happen soon.

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