Friday, January 10, 2014

Major Futures Markets Day Trading Strategy

Crude 60-Minute
Crude Oil has been consistently getting pushed to the down side day after day. We did see buyers step in very aggressively from 91.79 down to 91.24 and bought Crude right back up. We are having a hard time at the previous swing high currently. I will be looking to buy Crude up to 93.90 but if we can't break AND close above the previous swing high I will also be looking short back to 91.79.

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Euro 60-Minute
The Euro has been VERY choppy the past few days and continues to make solid lows and only wicks and pops right back up again. This does show us that buyers are looking to buy down there. For now we have had price move to the wedge highs and fall right back off again. I will be looking to take the Euro short down to the wedge lows around 1.3560 or so before looking back long again.

Gold 60-Minute
Gold is starting to wedge VERY tightly and is in the time expiration of normal wedge's where you start to see them breakout instead of FOBO. I will be looking long with that in mind up to 1240.5 as well as looking to take Gold short to the wedge lows down to 1227.3 and lower. The first test on either side may be a quick FOBO but we should see price continue to push through to at least the previous swings on both sides.

Russell 60-Minute
The Russell has been very sideways over the past few days and has since revisited the highs and FINALLY broke through the wedge highs with some conviction. Now that we have cracked the wedge highs and retested them in the short term I will be looking long from here up to 1163.4 up to 1166.4 as my upside targets at the previous sell zone above us.

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