Monday, April 28, 2014

Major Futures Markets Day Trading Strategy

Crude 60-Minute
Crude Oil has been catching quite a bit of selling to push price lower into the wedge it is currently sitting in. We are now rejecting the highs of the wedge as well so I will be looking short back to test demand from 100.89 - 100.48 as well as push lower to the wedge lower to test and confirm that low. We can also consider short term long trades at a bounce of demand back to the wedge highs.

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Euro 60-Minute
The Euro has caught a gorgeous block of buying out of the BMT sitting back at 1.3822. This push higher slammed price right into the wedge highs which are holding quite strongly and dropping price lower. I am looking to sell these highs of the wedge back down to revisit the BMT at 1.3822 and demand below that from 1.3821 - 1.3812 as well as the wedge low.

Gold 60-Minute
Gold is currently stuck right in supplied highs from 1301.8 - 1307.1 as well as the wedge highs. I am looking to sell these highs back down to revisit the BMT at 1296.1 and possibly lower underneath that to the demanded lows from 1292.1 - 1290.4 and possibly lower to the wedge lows.

Russell 60-Minute
The Russell has been getting slammed lower and we have no formed new demanded lows as well as a new wedge low. We have yet to test these lows so selling is still on the table. I am looking to sell down to revisit the wedge lows for a test back at 1120's as well as looking long back up to the BMT for a test of "Fair" pricing at 1135.7 and possibly higher above that to supply from 1137.6 - 1138.5.

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