Wednesday, December 11, 2013

Major Futures Markets Day Trading Strategies

Crude 60-Minute
Crude has pushed off of the wedge highs and is expanding the wedge lows currently. We are within the cloud support at the moment as well so if we fail to push lower I will be looking long up to the wedge highs and the previous swing at 98.75. If we continue to push lower from here I will be looking short down to the supply zone under us from 98-97.72 where we should start seeing buyers enter the market.

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Euro 60-Minute
The Euro has pushed down into the cloud support just briefly and bounced higher from there. I am looking for the cloud to hold us up and buy up to the previous swing at 1.3796 and the wedge highs. We are currently hung up in a supply zone above us that we need to be cautious around as well. I will be considering short trades because of this down to 1.3743 and lower.

Gold 60-Minute
Gold pushed down from the newly created wedge highs into the cloud for a quick test and pop higher. Now that we have failed to move lower I am looking to buy this market higher up to the wedge highs for a confirming test as well as a possible blow-off higher to the previous swing at 1267.5. If we start to push lower I will consider shorts once we break the cloud below us.

Russell 60-Minute
The Russell has bounced higher after a double bottom around 1118.0. This pushed the market into the supply zone ahead which would normally be a non issue as it is relatively minor but this supply zone is the zone after the weekend gap which will be heavily defended by sellers as this was the starting move of the week. I am looking to take this market short back to 1118 and possibly lower through those lows.

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