Monday, November 25, 2013

Major Futures Markets Day Trading Strategies

Crude 60-Minute
Crude Oil is starting to look as though it is bottoming around the lows at 93.30's. Every time we test that area we bounce higher giving us this consolidated range we see this morning. I am looking to buy this market higher to 94.29 and 94.44 at the BMT as well as possibly higher to the wedge highs. Once we reach those levels I will also consider shorts as the 93.30's are acting as a magnet and will pull price right back down.

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Euro 60-Minute
The Euro is failing from the newly formed wedge highs and continuing to push lower. I am looking to sell this market down to the BMT at 1.3493  as well as lower to 1.3463 at the previous swing and the wedge lows. As the wedge highs are newly formed I will also consider long trades up to it to confirm the wedge. We have a nice block of selling right at the wedge highs so we may see a nice reversal up there.

Gold 60-Minute
Gold has been selling off hard the past few days / weeks and just doesn't seem to stop dropping. We have now pushed new lows once more and look as though we are having a bit of trouble pushing lower. I am looking to go short with this trend back to 1225.7 at the previous low but I will also be considering longs back to 1242.7 and up to the wedge highs if we continue to fail to push lower.

Russell 60-Minute
The Russell is continuing to push higher and higher and is starting to get VERY extended to the upside. Staying with the trend initially I will be looking long up to 1128.9 and higher to new highs but with as over extended as this market is, it would be a good idea to be cautious as well as looking for short opportunities in the short term down to 1126.4, 1125.1, 1122.7, 1119.3, and the BMT at 1110.3.

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