Wednesday, March 12, 2014

Major Futures Markets Day Trading Strategies

Crude 60-Minute
Crude Oil has caught quite a bit of selling pressure dropping price strongly below the BMT as well as straight into the channel lows. Since we are sitting right at support I will be considering long trades in the short term back to 99.48 - 99.60 and the channel highs but will still be looking overall to the short side as we are quite strongly bearish in sentiment.

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Euro 60-Minute
The Euro is attempting to push back to the highs sitting up at 1.3915 but it has a HUGE amount of selling it needs to break through. I will consider long trades if we get some strength to come in but will also be considering short trades since we are getting hung up in all of these supply zones. I will be targeting the previous swing at 1.3843 - 1.3834 to the short side as well as the BMT below that at 1.3813.

Gold 60-Minute
Gold has caught a HUGE amount of buying pressure kicking price right back up to the previous highs at 1364.1 and towards the channel highs once again. I am looking to buy this market higher with this strength up to first test the previous high at 1364.1 as well as higher to the channel highs a bit farther above that. If we fail at those highs, we can also look for shorts back down at a failed double top pattern.

Russell 60-Minute
The Russell has broken below the BMT as well as the channel lows with quite a bit of strength to the down side. Typically when we see a break down of a channel as well as the BMT you will usually see price pop up to retest those areas before continuing its fall so I will be looking for longs back to retest those areas around 1190.6 before looking back short to supply from 1176.8 - 1175.8 and lower.

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