Friday, March 14, 2014

Major Futures Markets Day Trading Strategies

Crude 60-Minute
Crude Oil has pushed all the way down to the channel lows where we are seeing price catch a bit of a bounce pushing higher back up again. I am looking to buy price back up to supply starting at 99.48 - 99.60 as well as possibly higher up to the BMT and channel highs above that sitting at 100.29. If we do see some selling pressure come in we can consider shorts back to the channel lows.

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Euro 60-Minute
The Euro fully rejected the wedge highs and sold off from there back to the BMT, demand, and the wedge lows between 1.3848 - 1.3033. We are now seeing the buyers step back in so I will be looking to buy this market higher back up to the highs of the wedge and possibly higher back to supply from 1.3952 - 1.3966 and possibly higher. We can also consider short term sells back to test the wedge lows before going back long.

Gold 60-Minute
Gold has caught a nice block of buying driving it right back into the wedge highs above. We are seeing a bit of selling pressure coming back in at these highs so I will be looking to sell this market right back down again as we have seen the sellers defend this area 6 times before. I will be targeting demand first starting at 1370 - 1368.2 as well as looking farther short to the wedge lows below that.

Russell 60-Minute
The Russell has dropped back down to retest the wedge lows where we are now seeing price break through and test demand starting at 1165.9 - 1158.5. I am looking to buy this move back up in to the range as more of a fake out and targeting the highs of the wedge and the BMT sitting up around 1184 - 1185 or so. If we do stay below the wedge low we can also consider sells farther down to 1157.8.

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