Friday, February 21, 2014

Major Futures Markets Day Trading Strategies

Crude 60-Minute
Crude Oil has been VERY sideways not really giving us much to work with in terms of price action. This sideways type of market condition did meander price back under the channel highs so I will initially be looking to sell this market back lower to 102.28 at the previous low as well as lower to the wedge lows below that floating around 101.70's or so. We will have some demand to get through from 102.06 - 101.96.

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Euro 60-Minute
The Euro pushed down into the wedge lows and the BMT sitting at 1.3690 which was defended strongly by the buyers. We gave it a few tries to push lower but just can't make it. I am looking to buy this market higher with this buying pressure back up to 1.3730 at the previous swing as well as higher up to supply starting at 1.3754 and up to 1.3773 around the wedge highs.

Gold 60-Minute
Gold has been overall sideways, but it has been maintaining relatively large ranges for us to play within. We did end up rejecting the wedge lows that we were looking for yesterday giving us a nice push higher. I am looking to buy with this strength up to the channel highs around 1330's but with this failure to break the previous high at 1325.3, I will also be considering the sell side temporarily back to 1315.9.

Russell 60-Minute
The Russell has caught quite a bit of VERY strong buying pressure breaking above the previous high as well as expanding the wedge highs. I am looking to buy with this strength higher up but with with the complete lack of a pullback, I will also be considering the sell side temporarily back do the wedge lows for a retest before we really see the buyers flood in for us.

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