Wednesday, December 4, 2013

Major Futures Markets Day Trading Strategies

Crude 60-Minute
Crude Oil is currently expanding the wedge highs and continues to push higher. I am looking to take this market higher up to 97.64 first at the previous swing high as well as higher to the above supply zones between 97.89-98 and 98.23-98.43. There is a larger supply zone above that but we are a ways away from that area. We do also have the larger wedge high above us that we will need to break before going higher.

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Euro 60-Minute
The Euro is currently expanding the wedge lows and continues to push lower. We have now cracked below the BMT up at 1.3559 and have firmly closed below it, which by itself is a bearish signal. I am looking to sell this further down to 1.3524-1.3521 as well as lower to the supply zone underneath us which lines up with the wedge lows. Once we reach that area we can begin to look for opportunities to buy it back up.



Gold 60-Minute
Gold has bounce quite a bit higher from the lows around 1210 or so and has surpassed the cloud moving up. Now that we have a confirmed anchor low for the wedge when we revisit those lows we may have a chance to buy a bounce off of it. In the meantime I am looking to take this higher to the wedge highs which line up perfectly with the BMT at 1240.6.



Russell 60-Minute
The Russell is currently expanding the wedge lows and pushing lower. We did have a rejection bounce off the previous swing low but are now pushing lower again signaling a failure of the bulls to continue the move higher. I am looking to sell this down to 1116.3 at the previous swing low which lines up nicely at the wedge low, as well as lower to the lower wedge lows where we should see a bit of a bounce back up.


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