Wednesday, January 8, 2014

Major Futures Markets Day Trading Strategies

Crude 60-Minute
Crude Oil has been stuck in a consolidated range for the past few days bouncing up and down between our supply and demand zones. We are currently in one of those zones now from 93.90 - 94.22 so I will be looking to sell Crude Oil down to the next zone underneath us from 93.43 - 93.20. We also have the wedge lows to deal with on the way down which may offer up some short term long opportunities.

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Euro 60-Minute
The Euro has started to crack below the wedge lows as well as challenging the supply zone underneath that between 1.3583 - 1.3571. If we begin to fail any further I will be looking to expand the wedge lows and sell this down to the next swing low at 1.3542 and possibly lower. If we do end up holding this low we can also look to buy up to the wedge highs and the zone above that from 1.3629 - 1.3634.

Gold 60-Minute
Gold has pushed into the BMT (and a bit under it) as well as testing the wedge lows. If we continue to push under the wedge low I will be looking to sell Gold down to the next supply zone at 1217.4 - 1211. This is a VERY large supply zone which should hold with some strength as it has held before. If we do start to push back higher we can also look for longs up to 1231.3 - 1232.2.

Russell 60-Minute
The Russell is getting caught right in the middle of the wedge it is currently sitting in and it is getting closer and closer to the normal time completion area where we should star to look for breakouts. I will be looking both long and short in this case up to 1158.2 and higher as well as down to 1147.5 and lower. We do have the BMT at 1149.1 which should come in as support right at the wedge lows for a possible better long entry.

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