Monday, February 10, 2014

Major Futures Markets Day Trading Strategies

Crude 60-Minute
Crude Oil has gone up on a VERY strong move and expanded the wedge highs as well as breaking above 100.00 for a little bit all the way up to 100.40's. This move higher came on a TON of strength so with this pullback we are in now, I will be looking to buy this market back up to the wedge highs and supply starting at 100.41 up to 100.53. If we make it back to those highs we need to be careful of a rejection back down confirming those new wedge highs.

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Euro 60-Minute
The Euro has pushed into the wedge highs where we are seeing the sellers coming in and defending. We did have some demand show up between 1.3623 - 1.3618 but overall that isn't a huge zone to deal with. I am looking to take this market short from here back down to the BMT sitting at 1.3576. If we can get some legs on a sell off we may be able to catch a move all the way back to the wedge lows.

Gold 60-Minute
Gold has had quite a bit of trouble pushing higher into this supply zone where we are seeing sellers defending quite aggressively. Every time we have attempted to push in to it, we have popped back out and now, on top of that, we are at the wedge highs. I am looking to sell this market lower back to demand starting at 1268.8 and lower to 1264.7. If we can catch large selling I am looking to push this all the way down to the wedge lows.

Russell 60-Minute
The Russell had a sharp sell candle on the 7th which was picked right back up again for a strong reversal candle long. This push higher got us into the BMT floating around 1113.6. Price is now stuck there having trouble moving. I am looking to take this initially short down to the wedge lows but will also consider longs if we start to break above the BMT up to 1130.1 as a target.

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