Tuesday, December 10, 2013

Major Futures Markets Day Trading Strategies

Crude 60-Minute
Crude Oil is currently sitting at the highs of the wedge and is expanding it even higher. We are seeing quite the rise in Crude Oil pricing the past few weeks. I am looking to buy this higher to 99.81 at the start of the supply zone above as well as higher to 99.43 at the previous larger swing high. If we do start to move down, I will also be looking short back to the cloud between 97.83 - 97.67.

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Euro 60-Minute
The Euro has caught a monster move higher the past week or so and doesn't seem to have an end in sight. In the short term we have moved into a double topping area where we are having trouble breaking the previous swing high. If we fail to break that high I am looking to sell this market back down to 1.3733 and 1.3714. If we do break through that high AND close above it, I am looking long up to 1.3787 at the top of the supply zone above.

Gold 60-Minute
Gold is currently expanding the wedge highs with a nice and strong move higher after we cracked above the wedge. Now that we are creating the new wedge highs I am going to continue looking long up to the supply zone above at 1275 - 1278.1. We have had quite an extensive move higher without testing the BMT after rising higher so I will also be looking short back to the BMT at 1236.7.

Russell 60-Minute
The Russell has rejected off of the wedge highs above and has now challenged AND closed below the BMT. Now that we are below the BMT I am looking to sell this lower to the previous swing at 1124.3 for a possibly double bottom bounce play. If we end up closing back above the BMT it is showing the wedge lows holding and I will be looking long back to the supply zone between 1131 - 1134.3.

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