Thursday, January 16, 2014

Major Futures Markets Day Trading Strategies

Crude 60-Minute
Crude Oil has pushed strongly above the BMT back at 93.64 and has stayed above it. This move higher was met with a big chunk of supply volume between 94.40 - 94.64 which we have seen cause a double top at 94.64. I am looking short to demand down at 94.04 as well as lower for a test of the BMT before we start to see the buyers re-enter Crude Oil to take it back up again.

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Euro 60-Minute
The Euro has pushed under the BMT and has been staying there for quite a while now but we have been stuck in a very large demand zone from 1.3595 - 1.3571 where we have seen the buyers defending the lows. I will be looking long out of demand back up to 1.3618 and higher to the BMT at 1.3640 but I will also be looking short to the lows again at 1.3571 and the wedge lows.

Gold 60-Minute
Gold has fallen from the large supply area from 1253.9 - 1256.5 and has come down to test the BMT at 1236.8. The BMT is acting as strong support currently and the last time we were here we bounced off it up to 1243.4. I am looking to buy this market higher once again up to 1243.4 and higher but will also consider shorts under the BMT to the next low at 1233.5 and lower.

Russell 60-Minute
The Russell has expanded the wedge highs all the way up to 1170.4 before catching a bit of selling supply dropping the market lower. This has solidified the wedge highs so I will be looking short from here lower to 1162.8 and possibly lower to the BMT which hasn't been tested in a few days now back at 1156.5. Once we reach the demand zones below we can start to look for buying opportunities back up tot he highs again.

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