Tuesday, April 8, 2014

Major Futures Markets Day Trading Strategies

Crude 60-Minute
Crude Oil is currently sitting at the wedge highs that we have seen the sellers defend several times in the past week or two. Each time we have visited these highs we sold right off. I am looking to sell this market lower from these wedge highs back down to the BMT at 100.45 as well as underneath that to the demand zone from 100.08 - 99.92.

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Euro 60-Minute
The Euro has broken firmly above the wedge highs where we are seeing the bulls really push in. I am looking to buy this market higher to the supply zone highs at 1.3808 as well as the previous swing. I will also be considering short trades back to revisit the wedge highs for a test of that level before we go higher so both sides of trading are on the table today.

Gold 60-Minute
Gold caught a VERY large block of buying to knock prices quite a bit higher up to expand the wedge highs to new highs. I am looking to sell this market back down to revisit previous resistance as support around 1307's as well as lower to the BMT sitting down at 1299.4. We also have the option of buying with the expansion of the wedge highs up to supply from 1316.8 - 1318.7.

Russell 60-Minute
The Russell caught a HUGE amount of selling pressure knocking price lower to expand the wedge lows down to a low of 1125.1. This push lower was picked up by the buyers and is now pushing back up again. I am looking to sell this market back to test the lows around 1125.1 as well as looking potentially long to test the BMT from the bottom end sitting at 1163.2.

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