Tuesday, April 29, 2014

Major Futures Markets Day Trading Strategies

Crude 60-Minute
Crude Oil has broken above the wedge highs and is pushing higher yet. I am looking to hop on with these buyers to knock price up to the BMT sitting at 101.70 but we do need to be cognizant of a quick snap-back to revisit the wedge highs for a retest before we may possibly move higher so we can look for short term selling opportunities back to test that area.

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Euro 60-Minute
The Euro pushed up to the wedge highs once more in the overnight and sold off HARD blasting through the BMT back at 1.3829 and also breaking demand. We are now testing the wedge lows after this blow off so I will be looking to hop on long and buy this market back to the BMT first at 1.3829 as well as possibly higher up back to supply from 1.3864 - 1.3878 and the wedge highs.

Gold 60-Minute
Gold has now dropped back below the BMT sitting back at 1295.9 where we have now had price come back to test again. This push up has also placed us in supplied highs near the wedge highs. I am looking to sell these highs back down to the wedge lows possibly all the way back down to 1272's and even lower to the wedge.

Russell 60-Minute
The Russell is stuck smack-dab in the middle of no-man's land. As we are in the middle of the overall wedge formation we can look both long and short today. I will be looking long back up to test the supplied highs from 1122.8 - 1129.8 and the BMT above that at 1131.8 as well as looking short back to the demanded lows from 1098.7 - 1090.8 along with the wedge lows down there.

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