Tuesday, March 11, 2014

Major Futures Markets Day Trading Strategies

Crude 60-Minute
Crude Oil has had quite the drop in price from yesterday. Disregard the gap in price, this is a problem with NinjaTrader and should be fixed by this weekend. We are now nearing the wedge lows and demand from 100.75 - 100.13. I am looking to sell down to that area where I will be then looking to buy this market right back up to first test the previous high at 101.54 as well as higher to the BMT at 102.09.

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Euro 60-Minute
The Euro has rejected the channel highs where we are now seeing price trending slowly back downward again. I am firstly looking to take this market short from here back down with these sellers back to the BMT at "fair" market price around 1.3801. I will also consider short term buying opportunities to push price into the wedge highs again to give us more chances to, once again, sell back down.

Gold 60-Minute
Gold has been slammed higher buy the buyers right smack-dab into the wedge highs and into supply from 1353 - 1355.0. This push higher is seeing some selling pressure coming in so I will be looking to sell this market back down from these highs to the BMT sitting at 1337.6 as well as lower to go back and test the wedge lows which is on top of a demand zone from 1334.8 - 1326.6.

Russell 60-Minute
The Russell is continuing to fail from the Double-Top highs that we were selling yesterday. It has been a choppy ride on the way down but we are still in sell mode. I am looking to sell this market lower to physically test the BMT sitting down at 1191.4. We came close to it but never actually tested it so we should see it acting as a magnet today pulling price towards it.

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