Wednesday, October 9, 2013

Major Futures Markets Day Trading Strategies

Crude 60-Minute
Crude Oil is sitting above the BMT and has yet to close below it at 103.26 or lower. If we stay above it from here I will be looking for long trades up to the wedge highs around 103.75 or so. If we do begin to break back below the BMT and CLOSE below it, I will also look for shorts back to 102.85 first but further to the wedge lows. If we make it to the wedge lows I will be looking for a bounce back higher.

Euro 60-Minute
The Euro has pushed below the wedge lows that we have had for nearly a month now. With this close AND push further down I am looking to sell this further down to 1.3480 - 1.3464 into the next buy block area below us. If we do end up moving higher, I would like us to close back above the wedge low before looking long yet.

Gold 60-Minute
Gold has pushed into a 60-Minute TZ Buy area and has since pushed off of that area. I am looking to take this long in the short term to the BMT at 1319.7 and to the wedge high. Overall, we are still in the middle of the wedge and I will be looking short to the LC zone below us which overlaps the wedge low very nicely for a potential bounce at those lows.

Russell 60-Minute
The Russell had a very large gap higher after the market close yesterday and because of this I will always be looking for that to close at some point. Since we gapped into the moving averages and have had a reversal signal lower, I will be looking to sell this to the gap fill around 1044 as well as the lows at 1043. Once we reach those areas we may start seeing a bounce higher back to the wedge high.

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