Wednesday, March 26, 2014

Major Futures Markets Day Trading Strategies

Crude 60-Minute
Crude Oil has pushed back to the BMT sitting at 99.23 where we are seeing the buyers defend it once again. I am looking long from here up to the wedge highs and back to the supply zone above at 100.09 - 100.29 where we have seen the sellers come in several times before to defend that area. That means if we get back to those highs, we can also look to take the market right back down again.

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Euro 60-Minute
The Euro has been wedging to the downside where we are seeing several attempts to push price into the BMT above at 1.3829 where we are seeing the sellers defend it very aggressively. We have now fallen off to the demand zone from 1.3793 - 1.3747. We are floating in the middle at the moment so we can look both long back to the BMT at 1.3829 as well as short back to the wedge lows around 1.3760's.

Gold 60-Minute
Gold has been in a descending wedge over the past few days and we have finally broken above the wedge highs. Along with this we have come back to retest those highs. I will be looking to the long side in the short term back to the previous high at 1318.0. If we do begin to fail back into the range I will also be looking to take this back short to the lows at 1305.9.

Russell 60-Minute
The Russell has been expanding the wedges but still maintaining this sideways range that we are stuck in. We have pushed price higher into the BMT sitting at 1184.1 where we are seeing the sellers aggressively defend. I am going to be looking short from here with this rejection targeting back to the lows of the wedge and possibly lower to the swings below that at 1165.8 and 1163.1.

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