August 28, 2013

Major Futures Markets Day Trading Strategies

Crude 60-Minute

Crude Oil has broken above the potential channel high and has come back for a retest around 109.60. I am looking long from here back to 111.66 to the highs. If we do continue lower I will also be looking for selling opportunities below the channel highs pushing lower back into the range.

Euro 60-Minute

The Euro is sitting on top of its wedge lows. We are at about 75% completion at the moment and should be seeing a breakout soon. I will be looking to take this long back to the top of the wedge for a potential break out or at the least, a blow-off to 1.3499. If we push lower, we may also see a blow-off to 1.3323 and lower.

Gold 60-Minute

Gold is wedging VERY tightly towards the highs of the channel. We are going to see a breakout of this wedge VERY soon. I will be looking for a long and short with a breakout in either direction. I would prefer to see a break down AFTER we push up to the channel high for a FOBO of the wedge highs. 

Russell 60-Minute

The Russell has pushed below the wedge low and is now nestled in a nice long term buy zone. We have started to consolidate here showing potential accumulation at these lows. I am looking long for a retest of the wedge low or at least to 1016.2. If we continue lower I will be looking short under the 1010.9 lows to take this lower to 1008.2.

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