Monday, February 24, 2014

Major Futures Markets Day Trading Strategies

Crude 60-Minute
Crude Oil has rejected the channel highs once again pushing down to nearly test the wedge lows before catching a bit of buying pressure from 102.25 - 101.69. I am going to be looking to buy this market higher back to the channel highs and to each supply zone above, but since we never physically tested the wedge lows I am also considering short trades lower to get a test.

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Euro 60-Minute
The Euro has strongly rejected the wedge highs on the second test pushing price down to test a fresh wedge low. As this wedge low has yet to be confirmed I will be looking continued short down to 1.3711 - 1.3700's at the BMT and demand as well as looking for bounces higher targeting supply starting at 1.3765 - 1.3774 at the previous highs.

Gold 60-Minute
Gold has attempted to push higher in the channel highs where we have seen quite a bit of selling come in to defend those highs. We haven't broken to new lows yet showing the buyers still have interest. With these mixed feelings I will be looking short down to the wedge lows and previous swing at 1318.7 as well as high back to revisit the 1338's.

Russell 60-Minute
The Russell has been VERY bullish in the long term but has been a bit consolidated at these highs. We are now attempting to break back to new highs past supply highs at 1167.2. I am looking to take this trade long to new highs today if we can manage to stay above the wedge highs but if we fail lower back down I will look to short to 1159.6 and lower to the wedge below that.

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