Wednesday, February 26, 2014

Major Futures Markets Day Trading Strategies

Crude 60-Minute
Crude Oil caught a big block of selling over the past few days pushing down into and below the BMT back at 101.62. This push to "cheap" prices was picked up immediately by the buyers popping price right back up again. I am looking to buy along with this strength to supply above starting at 102.82 - 102.87 as well as above that to the channel highs that have been defended several times.

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Euro 60-Minute
The Euro has broken below the wedge lows after seeing VERY choppy price action. This push down came back to test the BMT and is having trouble breaking through it. I am looking to buy this bounce back up to retest the wedge lows as resistance before looking to sell below the BMT lower to demand at 1.3702. If we do continue higher I will be targeting the wedge highs back at supply from 1.3760.

Gold 60-Minute
Gold attempted to break the channel highs but price was defended by the sellers and was knocked right back down again. This push lower dropped price into the wedge lows where we are seeing buyers come in. I am looking to buy this market back to channel highs with this buying strength but if we start to crack below the wedge low I am also looking to sell down to the BMT sitting at 1321.2.

Russell 60-Minute
The Russell has pushed back up out of the slow consolidation we saw yesterday back towards the wedge highs. We didn't quite test those highs so they should begin to act as a magnet pulling price up. I am looking to go long into those highs around 1180's where we can then begin to look to short this market back down to the wedge lows around 1168.3 or so.

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