Tuesday, November 12, 2013

Major Futures Markets Day Trading Strategies

Crude 60-Minute
Crude Oil is currently sitting right on top of the BMT at 95.17 as well as sitting at the wedge highs. Now that we have FINALLY revisited the BMT, I am looking to sell this market back down to 94.48 and the wedge lows. As we fall lower, we will have a quite a bit of buying zones coming in underneath us that will cause the market to get a bit shaky as we fall lower.

Euro 60-Minute
The Euro is currently expanding the wedge highs further up and pushing towards the BMT target above at 1.3487. I will be looking to buy as we rise higher targeting 1.3453 first and then the BMT further up. Once we reach the previous swing high at 1.3453 we may see a bit of a push back down before rising higher to the magnet at the BMT so we need to be careful as we approach that level.

Gold 60-Minute
Gold has created a bearish channel as it has been falling VERY hard the past few days. We have now reached an area of consolidation that we have been stuck in for a while. As we approach the channel highs in our sideways price action, I am looking to short this market right back down to 1275.8 first and lower from there to the channel lows for a possible third block sell off out of this consolidation.

Russell 60-Minute
The Russell is currently stuck up at the wedge highs inside the last chance zone from the previous swing. Now that we have fallen lower out of that zone I will be looking to take this market short towards the downside target at 1091.8 and lower to 1085.9 and the wedge lows below that. We are in a buy zone so we may be a bit shaky on the way down.

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