Friday, January 24, 2014

Major Futures Markets Day Trading Strategies

Crude 60-Minute
Crude Oil has been on an absolute TEAR the past week pushing new highs on a seemingly daily basis. This strong movement has been met with a supply zone from 97.55 - 97.84 where quite a bit of profit taking happened and pushed Crude back to the channel lows. I will be looking to buy this back up again off the channel lows right back to the highs again at 97.84 and possibly higher.

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Euro 60-Minute
The Euro broke to new highs yesterday and expanded the wedge highs to a new pivot high solidifying the swing for the wedge high. This gives us a possible sell area if we revisit those highs that we can look out for, but for now I will be selling this market lower to the demand area below at 1.3636 and the BMT below that around 1.3608 where we should see the buyers come right back in again.

Gold 60-Minute
Gold has been on a HUGE push higher over the past few days giving us a VERY bullish market and putting Gold right back above the BMT once again which is now back at 1246.1 We have since pushed to new highs creating a new pivot high for the wedge. If we revisit those highs we can look for a selling opportunity to take it back lower but until then, I will be looking short back to supply at 1257.8 and lower to the BMT. 

Russell 60-Minute
The Russell has been in a very strong up trend but has been seeing a harsh sell off bringing price under the BMT back at 1166.8. This push lower gave us a gorgeous looking test of the channel lows which was met with a strong push higher. With this bounce up I will be looking to buy this market higher back to the BMT but also higher to supply at 1171.1. As we are also under the BMT and overall negative I will also consider short trades back lower.

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