Wednesday, February 12, 2014

Major Futures Markets Day Trading Strategies

Crude 60-Minute
Crude Oil has caught a significant amount of buying pushing price into an area of supply where where the sellers have defended several times now. Now that we are right back there again I am going to be looking short back to 99.60 at the previous swing but since we are having problems making any lower low's I will also be looking to take longs higher up above the supply highs at 100.86 with a possible breakout.

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Euro 60-Minute
The Euro has had a VERY large push from the sellers knocking price below the BMT sitting at 1.3601 and even lower than that down to demand starting at 1.3568 where we are seeing price bouncing a bit. I am looking to take price long from here in the short term back to the BMT up at 1.3601 where I will look to sell it right back down again to the wedge lows floating around 1.3500's.

Gold 60-Minute
Gold is beginning to wedge a bit tight up here at these highs. We have bounced off of the wedge lows and out of demand from 1285.5 so I am going to be looking long from here with these buyers up to 1294.5 and higher to supply starting at 1296. Once we reach those highs it is likely that we will start to expand the wedge highs with this bullish pressure coming into the market so an extended move higher is possible.

Russell 60-Minute
The Russell is caught in a VERY tight wave at these highs far surpassing the normal wedge completion time so I will be looking for breakouts more than bounces at the highs and lows. We are currently pushing into the lows and breaking demand so I will be looking short from here down to the BMT and previous swing sitting between 1116.3 and 1113.7 where we can expand the wedge lows to.

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