Friday, December 13, 2013

Major Futures Markets Day Trading Strategies

Crude 60-Minute
Crude Oil has broken below the BMT up at 97.03 and has now entered into the supply zone while expanding the wedge lows. I am looking for a bounce higher from here in the short term back to test the BMT but the long term trend is shifting to the downside. I am looking short WITH the trend down to 96.30 as well as possibly lower as we see the sellers coming in more and more.

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Euro 60-Minute
The Euro has been VERY slow lately so we may not see a whole lot of action today. We have created a solid swing low for the wedge to anchor on down around 1.3700 and bounced higher up to the cloud and the supply zone where we currently sit. We are starting to tighten up this wedge so I will be looking for breakouts of both directions up to 1.3768 and the wedge highs as well as down to the new wedge lows and the BMT at 1.3699.

Gold 60-Minute
Gold has pushed down to around 1220 and created a fairly solid low for the wedge to anchor on. We have since popped up higher into the cloud between 1232.8-1236.7. I would like to see us go a bit higher to test the BMT as well at 1240.1 but I am looking short from here back down to the wedge lows to confirm it and if we do break it down to the previous swing low at 1210.1.

Russell 60-Minute
The Russell has been a sloppy and kind of gross mess at the lows. Look at all of the overlapping candles all over the place! We have created a wedge low and have bounced into the cloud where we are now. I am looking to sell this market short back into the choppy range back down to the wedge low as well as the supply zones below that. We need to be VERY careful on the Russell today with all of this chop.

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