Friday, January 17, 2014

Major Futures Markets Day Trading Strategies

Crude 60-Minute
Crude Oil has broken above the wedge highs and has pushed quite a bit higher since then breaking above the previous highs around 94.70's. I am looking to take this continued long up to 95.77 or so but it wouldn't be much of a surprise to see a bit of profit taking as well. I will be also be considering short trades back to the wedge highs to retest them before rising higher once more.

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Euro 60-Minute
The Euro has broken below the wedge lows and seems to be catching some strength to the downside. If we stay below the wedge and the previous swing lows I will be looking to sell this further down to 1.3547 - 1.3542 at the previous swings below us. If we push back into the wedge range I will be looking long back to the BMT and wedge highs around 1.3634 - 1.3640.

Gold 60-Minute
Gold attempted to push above the wedge highs but appears as though it is failing back into the range. If we stay below the wedge highs I will be looking for a rejection back to the wedge lows and BMT back at 1237.9. If we do end up breaking higher above the wedge highs again I will be looking long up to the supply zone from 1253.9 - 1256.5 and possibly higher if Gold can get some legs tot he upside.

Russell 60-Minute
The Russell has expanded the wedge highs once more up to around 1173's. We did see some profit taking off of those highs but that has put us right back into a demand zone between 1168.1 - 1164.8. I will be looking long out of demand back to the highs once more for a retest of the wedge highs. If we do start failing I won't be looking short until we can break below the previous swing at 1164.8.

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