Wednesday, January 22, 2014

Major Futures Markets Day Trading Strategies

Crude 60-Minute
Crude Oil is currently expanding the wedge highs this morning consistently pushing higher. I will be initially looking long from here up to the previous high first at 95.71 but also looking higher up to 95.76 and 95.85. We have nothing above those highs for quite a ways so if we can break 95.85 we should have clear sailing all the way up to 97's where the next supply zone is.

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Euro 60-Minute
The Euro bounced out of the demand zone from yesterday just like we thought it would and moved higher up to 1.3579 where it was met with a bit of supply. We are now sitting in the supply zone once more for a retest where I will be looking short if we stay below 1.3579. The targets to the downside will be back to the previous low at 1.3533 as well as the wedge lows underneath that.

Gold 60-Minute
Gold has been VERY bearish the past few days selling off from the highs of 1262 all the way down to 1235.1. This sell off also broke below the BMT around 1244's and has been respecting the BMT since. I will be looking overall short from here to expand the wedge lows and push down to the next supply area at 1224.2. If we do break back above the BMT, longs will be on deck up to 1252.5 - 1257.

Russell 60-Minute
The Russell attempted to push higher yesterday but was met with sturdy supply between 1172.8 - 1175.2 and was pushed right back down again. I will be looking to take this market short from a retest of supply back down to the wedge lows and the demand zone below before beginning to look back long again right back to the highs around 1175 - 1176.

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