Wednesday, April 2, 2014

Major Futures Markets Day Trading Strategies

Crude 60-Minute
Crude Oil has caught a HUGE amount of selling from yesterday and continuing in to this morning. This push down aggressively broke the BMT as well as cracked lower expanding the wedge lows and now breaking them. We are now in a demand zone at 99.11. I am looking for a short term bounce back to retest the wedge low but overall still looking to sell back down to new lows and the previous low at 98.80.

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Euro 60-Minute
The Euro has expanded the wedge highs just a touch from yesterday but overall still held and fell lower. This push back down has now broken below the BMT back at 1.3792. I am looking to hop on with the sellers and push price lower to demand at 1.3771 - 1.3762 as well as possibly lower to the wedge lows down around 1.3750's. If we can get some big sellers we may be able to make it down to the other wedge lows as well.

Gold 60-Minute
Gold has been in a descending wedge on the way down and that wedge has finally broken. We did actually catch a retest as well that happened fairly quickly and in the Euro Session. Now that we are breaking back higher I am looking to hop on with the buyers in the short term back to "fair" market value at the BMT up at 1303.3 as well as demand at 1298 - 1301.5.

Russell 60-Minute
The Russell has caught a significant amount of buying pressure to push price higher and expand the wedge highs which we are currently doing now. I am looking to continue this buying move higher to supply at 1189.4 - 1193.8 but we also need to keep the short side in mind for a bit of profit taking back to demand at 1175.4 - 1173.2 and lower to the BMT back to 1171.4.

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