Friday, February 28, 2014

Major Futures Markets Day Trading Strategies

Crude 60-Minute
Crude Oil has been quite sideways the past few days wedging tighter and tighter. We made the overall highs back at 103.45 and have since dropped to a low of 101.01 where we bounced right back up again. Now that we are sitting near the lows of the wedge I am looking to buy price back up to the wedge highs around 102.80's. Since the low of the wedge is "fuzzy", I will also consider shorts back to the BMT at 101.87 as well.

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Euro 60-Minute
The Euro has caught an absolutely HUGE amount of buying volume to push price right past the wedge highs directly into a very well defended supply zone from 1.3813 - 1.3819. This sell zone has been tested 2 times now and rejected each time. I am looking to sell down from these highs back to retest the wedge highs before looking to start taking longs back to new highs again.

Gold 60-Minute
Gold has been attempting to push lower but keeps getting hung up at the wedge lows sitting at the BMT. This area keeps getting defended by the buyers. The buyers have kicked price higher to supply where we have been seeing the sellers come in a bit. I am looking to buy overall to the highs of the channel up at 1343.2 as well as sell this market farther down back to the BMT at 1324.6.

Russell 60-Minute
The Russell attempted to push higher this morning but was hung up and defended by the sellers at the previous swing around 1188's. This has been holding price down but we are failing to push lower from here. I am looking to take price long to break above the 1188 high to move back to the channel highs but if we can't break higher I will also consider short trades back to the channel lows around 1175 or so.

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