Wednesday, January 15, 2014

Major Futures Markets Day Trading Strategies

Crude 60-Minute
Crude Oil bounced up out of the demand zone below from 91.79 - 91.24 just like we thought it would yesterday. Today we have pushed into a supply zone which we initially respected but have pushed back higher again. I am looking to take this long to 93.38 at the high of the supply as well as the BMT just above that at 93.49 where we can then look to sell Crude back down again to 91.83.

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Euro 60-Minute
The Euro has failed back under the BMT back up at 1.3649 and caught quite a bit of selling pressure pushing down to the demand zone where it is sitting now between 1.3595 - 1.3571. I will be looking for buying opportunities to take this back up to 1.3639 and higher to the BMT above that at 1.3649. We do have the wedge low under us around the previous swing at 1.3571 which will be a VERY appealing area to look to buy as well.

Gold 60-Minute
Gold sold off very hard out of the supply zone above from 1253.9 - 1256.5 for a push back to the median at the BMT around 1236.2. We have expanded the wedge lows on this push lower as well so I will initially be looking for a short down to 1233.7 but we are also sitting right on top of the BMT so I will be looking for long opportunities as well back up to 1240.6 - 1242.1.

Russell 60-Minute
The Russell caught a significant rise higher after seeing the market flood with sellers for the push all the way down to 1138.6. We have now made back the entire loss on that move AND more as we push higher. We have started to expand the wedge highs as well so I will be looking long up to 1165 or so. We are also sitting in a supply zone starting at 1163.4 so shorts will be considered for a target of 1159.2 to the downside.

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