Friday, January 31, 2014

Major Futures Markets Day Trading Strategies

Crude 60-Minute
Crude Oil has caught quite a bit of supply selling from 98.24 - 98.59 after seeing a VERY aggressive rise higher this week. This push down was defended a few times as well showing us strength to the downside. I will be looking to sell Crude down to demand starting at 96.90 down to the BMT and wedge lows around 96.70's. Once we get to those lows we can also look for long bounces right back up again.

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Euro 60-Minute
The Euro has started to break down below the demand zones and is starting to catch quite a bit of strength to the downside breaking below the wedge as well. I am looking to sell this move continued lower with this strength but until we break below the 1.3489 demand low we do have a possibility to also take long trades with bounces back higher as we expand these wedge lows.


Gold 60-Minute
Gold has caught a significant move from the lows where quite a bit of demand buying pushed the market higher from 1241.7 - 1238.2. This buying has pushed Gold right into the BMT @ 1253.1. This gives us some options to work with, so I will be looking to buy above the BMT up to supply at 1263.4 and the wedge but I will also look to sell below the BMT back to demand at 1241.7 and lower.



Russell 60-Minute
The Russell has currently come in to the previous low around 1115.8 which also lines up with the wedge lows. I am looking for this to become a double bottom pattern and bounce higher to supply at 1129.1 and higher to the wedge highs. If we do begin to break down under the low, I will also be looking to take the Russell short down to demand from 11114 - 1105.3.



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