Wednesday, February 5, 2014

Major Futures Markets Day Trading Strategies

Crude 60-Minute
Crude Oil has pushed to the wedge highs which also came into the supply zone starting from 98.24 up to 98.59. Price was quickly rejected from those highs right back down again. I am looking to take this market lower down to demand at 97.25 - 97.00 as well as a bit below that at the BMT and the wedge lows below that. Once we reach those lows we can start to look for longs right back up again.

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Euro 60-Minute
The Euro has caught an aggressive move this morning shortly after the news which expanded the wedge higher up very close to the BMT. This would normally be a bullish sign but price quickly snapped right back down again and ended negative. I am looking to take this market short right back down to demand at 1.3495 and lower to the wedge lows and previous overall low at 1.3476.


Gold 60-Minute
Gold caught a VERY aggressive move higher after the news this morning pushing it straight above several supply zones and into the wedge high and supply from 1272's and up. Once we reached those highs price pushed back down again. I am looking to sell this rejection lower back to value at the BMT sitting at 1252.6 which is also just above the wedge lows and demand from 1250.4.


Russell 60-Minute
The Russell caught a bit of selling this morning pushing price into demand starting from 1090.2 - 1086.6. Once we pushed into the wedge lows we snapped right back up again showing us that the buyers are defending these lows. I am looking to take this market long up to supply at 1103.3 and if it can get some legs, higher above that to the wedge highs and the BMT above that at 1124.3.



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