Tuesday, January 7, 2014

Major Futures Markets Day Trading Strategies

Crude 60-Minute
Crude Oil has been getting beaten down VERY hard over the past week or so and has been sticking firmly to the downside. We have had some buyers step in between 93.68 down to 93.20 which has been holding Crude Oil up from the lows. The long term trend is still VERY bearish but with the minor buying pressure stepping in I will be looking to buy Crude up to 94.44 or so and then looking back short to the lows.

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Euro 60-Minute
The Euro has had a strong bearish move under the BMT over the last few days giving us a new long term trend to the down side. We have yet to physically test the BMT up at 1.3681 but we are stuck at the wedge highs. I will be looking short from here down to 1.3611 - 1.3571 and possibly lower. The BMT will start to act as a magnet so the long side will also be on the table up to the BMT and 1.3670 - 1.3677.

Gold 60-Minute
Gold has pushed up to the wedge highs above and has quickly fallen right back down again. The long term trend is VERY bullish but in the short term we will be expecting a pullback to the BMT and the wedge lows around 1223.2. I am looking short from here down to those areas as well as possibly lower to the next supply level between 1217.4 - 1211.

Russell 60-Minute
The Russell is having a bit of trouble floating around the BMT at 1148 or so. If we start to move higher above the BMT we will start to shift back to the long side. If we start to fail below the BMT we should start to see the buyers giving up and prices to fall further. I will be looking in both direction, long up to 1155.6 as well as short to 1145.8 and lower. We did fail at the previous swing low around 1143 so the long side does look pretty solid.

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