Tuesday, February 11, 2014

Major Futures Markets Day Trading Strategies

Crude 60-Minute
Crude Oil has pushed up to the wedge highs while also embedding into the supply zone from 100.22 - 100.55. This area is seeing quite a bit of selling come into the market and hold this market down. I am going to be looking for a short trade back down to the lows into the previous swing at 99.89 and lower to the demand zone below that from 99.43 - 99.11. If we begin to break above the wedge highs, long trades will also be on the table up to 100.86.

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Euro 60-Minute
The Euro has pushed up in to the wedge highs as well as the supply zone starting from 1.3677 - 1.3688. This area has been defended several times before by the sellers and I am looking for them to do the same once more. I am looking to take shorts down and through the demand zones below us to the BMT sitting down at 1.3592. If this can get a big move lower I am looking to target the wedge lows all the way down at 1.3495.

Gold 60-Minute
Gold has pushed up into the wedge highs and is getting stuck there at the previous high. We saw an attempt to push out of that area but price was immediately pulled right back down again. I am looking to take this market down with this aggressive rejection targeting the previous swing sitting down at 1272.7 as well as lower under that to the wedge lows sitting on top of the BMT around 1262's.

Russell 60-Minute
The Russell is currently expanding the wedge highs pushing higher above the BMT sitting back at 1114.1. This push higher changes the overall bias back to the long side where we will be looking primarily for long trades. I am going to be looking for longs up to supply starting at 1130.1 and up but will also consider shorts back to retest the BMT back at 1114.1 and lower to demand.

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