Monday, January 13, 2014

Major Futures Markets Day Trading Strategies

Crude 60-Minute
Crude Oil just cannot catch a break to the upside! We ran into the wedge highs above and large selling volume came in to offer up quite a bit of supply at those highs and push Crude right back down again. I am looking to take Crude Oil short first to 91.79 and possibly all the way down to the previous swing at 91.24 at the wedge lows. Once we enter the demand zone below us I will also consider long trades back up.

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Euro 60-Minute
The Euro pushed up above the BMT back at 1.3645 VERY aggressively before moving into a consolidated range and falling right back off on high supply volume. We have now come down to the BMT for a test. If we can manage to fail to push below the BMT I will be looking for a rejection back to the long side up to 1.3672 - 1.3687. If we do fail below the BMT we are clear to short all the way to 1.3595.

Gold 60-Minute
Gold pushed up into the supply zone above between 1253.3 - 1256.5 and quickly snapped right back down again. We really don't have much demand below us to prop the market up until we reach 1233.7 - 1226.6 and the BMT in between that at 1230.2. I will be looking short down to the wedge lows and the supply zone as well. This aggressive move higher does imply the buyers are in the game so the long side will be also viable.

Russell 60-Minute
The Russell made new market structure highs out of the consolidation but we are still VERY choppy so we need to be cautious. We have created a supply zone of selling between 1159.8 - 1162.2. I will be looking short from here down to the wedge low and the BMT at 1153.1 but given the market structure I will also be considering the long side back up to 1162.2.

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