Monday, March 24, 2014

Major Futures Markets Day Trading Strategies

Crude 60-Minute
Crude Oil is currently breaking out of the wedge highs and is testing a supply zone from 100.07 - 100.25. I will be looking short term long up to the previous high at 100.25 but overall I will be looking for this market to fail right back down again back to test demand at 99.11 as well as lower to the BMT at 99.06 and the wedge lows underneath that. If we really catch some selling pressure we may see a push down to 98.25 - 98.09 as well.

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Euro 60-Minute
The Euro caught a HUGE block of buying this morning pushing price up to test a supply zone from 1.3837 - 1.3844 as well as near test the BMT sitting at 1.3839 where the sellers came right back in to sink price back down to the wedge lows and demand from 1.3767 - 1.3747. I am looking to take this market higher from these lows back to the BMT and supply. If we do catch a bit of selling, a short to 1.3747 is also on the table.

Gold 60-Minute
Gold has been catching a HUGE amount of selling dropping overall price from the highs back at 1392.6 back down to the 1320's. This push lower has knocked price into the wedge lows that we are now breaking below as well. I am going to look for a short term bounce higher to retest the wedge lows but will overall be looking to short this down to 1313.6 and lower with this aggressive selling pressure!

Russell 60-Minute
The Russell has been in this wedge for quite a while now getting tighter and tighter. We are still a ways from the typical completion so I am expecting these lows and highs to hold. We are now sitting at the lows of the wedge and the BMT around 1189's and will be looking to buy this market higher from here to the supply highs at 1200.4 as well as higher to the wedge above that around 1204's.

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