Thursday, December 12, 2013

Major Futures Markets Day Trading Strategies

Crude 60-Minute
Crude Oil has come down and bounced off of the wedge lows and moved higher into and above the cloud. I am looking long up to the wedge highs and the supply zone above that between 98.54 - 98.75. We do also seem to have some trouble showing up within the cloud so I will also be considering the sell side down to 97.40 and lower to the previous swings at 97.31, 97.20, and to the BMT at 96.92.

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Euro 60-Minute
The Euro has started to fail off of the highs and has started to push a bit lower. We have now expanded the wedge lows. I am looking to take the Euro short down to 1.3740 first but the overall target is the magnet of the BMT which hasn't been tested in a VERY long time. The BMT is sitting down at 1.3688 and that is where we may start seeing some buy interest enter back in on cheaper prices.

Gold 60-Minute
Gold has broken down hard underneath the BMT after falling from the wedge highs. Once we cracked below the BMT and CLOSED below it, that was a large selling signal. We also started to expand the wedge lows showing even more selling pressure. I am looking to continue selling Gold lower to the supply zone underneath us starting around 1227 and possibly lower yet.

Russell 60-Minute
The Russell is bouncing higher from the wedge lows and pushing up towards the cloud above. I am looking to buy the Russell up to the cloud between 1108.3 - 1112.8 as well as higher up to the BMT sitting up at 1122 for a retest before we see a possible larger sell off. I will also be considering shorts back to value around the lows of 1098.5 or so floating around the BRN of 1100.0.

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