Friday, October 4, 2013

Major Futures Markets Day Trading Strategies

Crude 60-Minute
Crude Oil has rejected the BMT down at 103.18 and has been pushing higher ever since. I am looking to buy this market higher to the swing at 104.38 first and a push past to the wedge highs. This has been an extended move higher so I will also be considering short trades for a bit of profit taking to the wedge low.

Euro 60-Minute
The Euro has been falling from the newly formed wedge highs and hasn't looked back. I will be looking to sell this down to the wedge low below us in anticipation of a blow-off to the BMT at 1.3538. Because of this aggressive move lower, I will also consider long trades as we are now entering buying zones for a bit of profit taking from this move down.

Gold 60-Minute
Gold is stuck at the BMT currently and struggling to get above it. We are also seeing it reject the previous swing highs showing down side accumulation. I am looking to take this market short to 1302 first with an overall target back at the wedge lows around the 1280's. If we get a push higher I will consider longs above the BMT at 1320.6 targeting the wedge highs above.

Russell 60-Minute
The Russell is hung up at the BMT at 1070.7 and is catching a bit of selling in that area. I am looking to sell this down to 1065 first with the overall target at the wedge low. We do have yet to physically TEST the BMT so a move higher is likely as well; because of this I will be looking for longs as well to actually test the BMT and possibly further to the wedge highs.

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