Friday, February 7, 2014

Major Futures Markets Day Trading Strategy

Crude 60-Minute
Crude Oil caught a little bit of selling this morning pushing it into the wedge lows as well as pushing it into the BMT sitting down at 97.24 and quickly snapped higher up. I am looking to buy this market higher as we reject off of those lows moving to a target of 98.02 as well as higher up to the wedge highs. If we begin to fail back lower again I will be looking to also take a short lower to 96.80 at the previous swing.

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Euro 60-Minute
The Euro has broken above the wedge highs very aggressively when the NFP news came out. This push higher shot the Euro right into the supply zone starting at 1.3643 as well as the wedge highs. We then started to catch selling right back out of that area. I am looking to sell this market farther down as we reject supply down to the BMT sitting at 1.3563 as well as potentially lower at the previous swing of 1.3551.

Gold 60-Minute
Gold caught a spike of selling at the NFP news this morning pushing price right into the BMT and wedge lows around 1256's. This was immediately rejected straight back higher up to the wedge highs. Now that we are sitting at the wedge highs I am looking to sell this market back down again to the wedge lows and possibly lower past that to demand at 1250.4.

Russell 60-Minute
The Russell caught a big pop higher above the wedge highs at NFP news but was quickly snapped back down again into a big block of selling. I am looking to sell this market continued lower into demand starting at 1088.2 down to 1077's. Once we get to those lows we may see some buying come back in for long trades as these lows have been strongly defended before.

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