Thursday, April 3, 2014

Major Futures Markets Day Trading Strategies

Crude 60-Minute
Crude Oil has been in a bit of consolidation after the sharp sell off we saw from yesterday. This consolidation has shown up right on top of demanded lows from 99.11 and the wedge lows. We have yet to test the BMT so we should see that begin to act as a magnet so I will be looking to buy long back to the BMT up at 100.12 as well as looking to sell back to the demand lows at 99.11 and lower to the wedge.

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Euro 60-Minute
The Euro caught a BIG block of volume this morning giving us a very large candle. This candle is basically a giant Doji with a failure of the wedge lows. I am looking to buy this market up to the BMT at 1.3786 and higher to the wedge highs as well as looking to sell this market lower if the sellers to end up deciding to come in with this first break of the wedge lows down to the next wedge low around 1.3730's or so.

Gold 60-Minute
Gold has been catching a bit of buying after breaking the aggressive descending channel which popped price up nicely yesterday. Now we have fallen back down to demand sitting at 1282.4 - 1276.6 as well as the wege low below that. I am looking to buy this demand back up to supply back at 1292.9 - 1294.2 as well as potentially higher to the BMT to get price back to "fair" at 1300.6.

Russell 60-Minute
The Russell has been catching a firm amount of buying pressure to knock price very aggressively above the BMT and into supply from 1189.4 - 1193.8. We are seeing the sellers defend this area currently so I will be looking to sell this market lower back down to the previous low first at 1182.1 as well as lower to the BMT below sitting at 1174.8 with demand from 1175.4 - 1173.2

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