Monday, March 31, 2014

Major Futures Markets Day Trading Strategies

Crude 60-Minute
Crude Oil is showing us some VERY sideways price action. We are currently floating in the middle of the wedge and not really going anywhere in particular. As we are in the middle, I will be looking long back to 101.73 at the previous high first but also targeting the wedge highs above that as well as short back to 100.80's or so and possibly lower to the BMT and demand at 100.22 - 100.03.

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Euro 60-Minute
The Euro has caught a bit of buying pushing price back to the BMT at 1.3794 as well as the wedge highs just above that where we are seeing the sellers coming in to push it back down and reject those highs. I am looking to sell this market right back down to demand and the wedge lows sitting down around 1.3718 and possibly lower under that if we can really get some sellers to step in and push to new lows.


Gold 60-Minute
Gold has continued to push lower with this descending wedge pattern that we have been in for the past week or so. We are now resting back at the highs of this wedge and pushing back down. I am looking to sell this market lower with these sellers and push price back down to revisit the previous low at 1290.7 as well as lower to the lows at 1286.3 and the wedge under that.



Russell 60-Minute
The Russell is currently quite sideways floating in the middle of the wedge and not really catching much movement in any direction. Since we are firmly in the middle, I will be looking to take this market both long up to the highs of the wedge and the previous high at 1164.7 as well as short back to the wedge lows and demand from 1147 - 1144 and possibly lower to the previous swing at 1141.1.



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