August 14, 2013

Major Futures Markets Day Trading Strategies

Crude 60-Minute

Crude Oil is at its wedge highs and looking to fail. I am looking to sell this back to 105.71 first and the wedge lows overall. We do seem to be hung up a bit here and may go for another wedge high retest so I will also be considering taking long positions here above the BMT.

Euro 60-Minute

The Euro is at its wedge lows and bouncing back up. We had a quick blow-off and pushed right back in. I am looking long back to the BMT at 1.3293 and higher to the wedge high. If we do continue lower I will be looking short under the 1.3235 low. If we break higher we are currently rejecting an LC Zone so if go above the swing high, we will have a JH Pattern swing trade setting up!

Gold 60-Minute

Gold failed off of its wedge highs and is continuing lower. I am looking to sell this back to 1315 and lower to the wedge lows. We may see a bounce at the BMT so once we tag that area, I will consider scalping for longs as well. If we continue higher from here we may see a retest of the wedge highs as well so going long is also on the table.

Russell 60-Minute

The Russell is bouncing off of its wedge lows right now which is coincidentally on top of the BMT. I am looking long back to the wedge highs for a possible blow-off to 1056.2-1057.0. If we do continue lower, I will also be considering shorts back to the major buy zone down below.

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    schooloftrade

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