Thursday, February 20, 2014

Major Futures Markets Day Trading Strategies

Crude 60-Minute
Crude Oil has been VERY bullish over the past week and we have reached a new high back at 103.29. Since then we have fallen off a bit but are starting to see the buyers coming back in. I am looking to sell initially down to demand at 102.06 and the wedge low but will also be watching long trades back to the  highs at 103.29 and to also retest the new wedge highs to confirm them.

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Euro 60-Minute
The Euro ended up selling off of the wedge highs around 1.3760's where we had a large block of selling come in to push it all the way down to test the BMT at 1.3684. The buyers quickly stepped in the pick it up from those "fair" lows and aren't seeming to give it up yet. I am looking to buy long with these buyers back to the wedge highs and possible to break higher above that.

Gold 60-Minute
Gold pushed down to fake out the double bottom at 1308.4 or so where the buyers snapped price right back up again. This push higher put us right back above the wedge lows with strength. I am looking to buy this market higher with this strength back to supply starting at 1319.7 as well as higher targeting the channel highs to retest it from the bottom end where we can look to sell it back down from there.

Russell 60-Minute
The Russell came back after quit a block of selling that pushed the market down to the wedge lows just ahead of the BMT at 1138.0. This push down was met with buying supply coming in from 1141.8 - 1137.1. I am looking to buy this market higher with these buyers back to the wedge highs. I will also consider selling patterns as these wedge lows haven't been solidified yet.

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