Thursday, April 17, 2014

Major Futures Markets Day Trading Strategies

Crude 60-Minute
Crude Oil has pushed down to test the wedge lows and is pushing right back up again off of those lows. I am looking to hop on with the buyers to push price higher back to the minor supply above from 104.07 - 104.20 as well as targeting a larger move up to supply from 104.70 - 104.99 and the wedge highs above that. If we do fall lower we can look for shorts to the BMT magnet at 103.04.

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Euro 60-Minute
The Euro is currently sitting in the middle and dropping back a bit towards the wedge lows. I am looking to sell this market lower as well as buy it higher. The upside targets are sitting right at the wedge highs which also coincides with the supply zone above that from 1.3890 - 1.3903. I will also consider shorts back to the wedge lows which has the BMT in the mix as well around 1.3820's.

Gold 60-Minute
Gold is smack-dab in the middle of everything but being pulled up by the magnet BMT sitting at 1308.4. We still have yet to test it from the bottom end so I will be looking for long trades up to test it at 1308.4 but since we are in the middle, we need to also consider short trades back down to the previous lows at 1296.6 and 1293.5 as well as lower to the wedge lows.

Russell 60-Minute
The Russell has pushed back to the wedge highs and a bit above it seeming to want to try to target the BMT sitting up at 1130.9. I am looking to buy this market higher into that test at 1130.9 before looking to sell it right back down again to the previous lows at 1116.5 first as well as targeting lower to demand from 1098.7 - 1090.8 and the wedge lows around that same area.

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