Tuesday, February 25, 2014

Major Futures Markets Day Trading Strategies

Crude 60-Minute
Crude Oil caught a HUGE amount of selling pressure that pushed price far past the wedge lows, breaking those as well as continuing lower to the BMT which we cracked a bit below as well. We are bouncing a bit at the BMT so I am looking to take a long back up to retest the wedge as resistance before continuing short back down to the channel lows around 100.80's or so.

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Euro 60-Minute
The Euro is showing some VERY gross price action over the past few days where we are completely sideways. We are also nearing the completion of the wedge that we are stuck in showing us that we should expect price to start breaking the highs and lows instead of respecting them. I am looking to take longs up to 1.3773 as well as short back to 1.3729 past both sides of the wedge.

Gold 60-Minute
Gold has caught a nice bit of buying pressure pushing price right back up into the channel highs where we have seen the sellers defend several times before. I am going to be looking to short this back down to the previous swing at 1328.7 and possibly lower to the wedge low and BMT @ 1316.0. If we do begin to break higher I will consider longs as we are pinched between both channel levels.

Russell 60-Minute
The Russell has been VERY bullish the past week or so where we are seeing massive moves up on large buying volume. We pushed up to create a new wedge point high at 1179.6 but have since sold off and have gone almost completely flat. Since we are in the middle of the wedge I am looking to take this both long and short up to 1179.1 and supply as well as short to 1165.6 at demand.

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