Wednesday, February 19, 2014

Major Futures Markets Day Trading Strategies

Crude 60-Minute
Crude Oil has been VERY bullish with a HUGE amount of buying pressure coming in on the 18th into this morning. This push higher has popped price into the wedge highs where we are currently sitting. I am going to be initially looking to sell this back down to demand sitting at 102.06 - 101.96 but with all of this strength I will also be considering long trades to expand the highs back up.

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Euro 60-Minute
The Euro has been very bullish but at the same time we are seeing some VERY difficult price action to trade on with quite a bit of chop and slop. This price action has created a new wedge high that we are currently rejecting lower from. I am going to be looking short from these highs back to demand starting at 1.3702 as well as lower to the BMT. I will also be considering buy signals back to retest the wedge high with this buyer strength.



Gold 60-Minute
Gold has been quite bullish over the past week or so where we broke above the channel highs. This push was met with sellers knocking price back down into the range where we tested the wedge lows. Now that we have a wedge sitting at the highs of a channel, I am going to be looking for breakouts from here; looking long up to 1325.3 at the highs as well as down to 1314.1 at the lows.




Russell 60-Minute
The Russell has been caught up with a HUGE amount of buying pressure pushing it into the wedge highs where we had some sellers come in between 1157.9 - 1160.7. These highs do appear to be defended so I will be looking to take this price lower targeting the wedge lows around 1143's. If we do start moving back up again, I will also consider longs with the overlying buying pressure back to the highs.




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