Thursday, January 23, 2014

Major Futures Markets Day Trading Strategies

Crude 60-Minute
Crude Oil is currently expanding the wedge highs but is running into the channel highs. These are mixed signals so both sides of the trade are viable. I will initially be looking short from the channel highs back down to demand between 96.51 - 96.41. I will also be considering long trades to expand the wedge higher up to 97.50's or so at the next supply area.

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Euro 60-Minute
The Euro has pushed into a supply zone from 1.3627 - 1.3649 and initially tried pushing lower but quickly snapped right back up to expand the wedge highs. This is a big sign that the sellers are failing. I am going to be looking long from here up to the next supply zone starting at 1.3674 up to 1.3700 BRN. If we do stay under the supply, I will also look short back to the BMT at 1.3588.


Gold 60-Minute
Gold has pushed VERY strongly back above the BMT way back at 1241.9. This move pushed us right into several supply zones starting from 1252.5 up to 1257.2 where we should start to see selling come in. If we stay below supply I will be looking short back to the BMT for a retest but if we do continue this bullish move I will be looking long up to the next supply area up at 1261.1 and higher.



Russell 60-Minute
The Russell has been getting tighter and tighter in the wedge but still has been moving higher and higher. Now that we are resting at the wedge lows I will be looking for a bounce higher form here back up to 1177.8 and higher to 1181.3. If we crack lower back into demand I will also be looking short back for a double bottom at 1171.6 and lower down to the next demand from 1171.2 - 1169.2.


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