learn to day trade futures with these trading strategies

We begin with the dollar index, and we can see on this short-term timeframe (13range) that our price wedge is the most important. Price wedge is a major personality clue, and when we see this on the dollar index it tells us to expect the same on other markets.  We then use the ‘trend channel’ drawing tool in NinjaTrader charts to define the channel, which gives us additional support to consider below the price wedge.

Our day trading strategy using CL begins with the slower timeframe 89-range chart.  We can see the AB=CD Pattern is still in play, but looking to fail in the next 24 hours.  If we break below 100.10 major support this tells us the AB=CD is failing, and this is a HUGE clue.  If we fail the AB=CD we then expect to test the 98.00 trigger zone below us. 

The easiest ways to profit right NOW on this crude oil chart is to sell retracements on the way down to 101.00, then read the tape, looking for clues if the market wants to go lower.  If we see strong sellers at 101.00 we then sell a retracement below 101.0 and take our profit at the wedge lows, around 100.50 area.  We then want to buy the wedge lows as the HIGHEST percentage.

Furthermore, as we analyze this 89-range chart on crude  we notice the price wedge advanced price structure, and this tells us to look for the highest percentage trade at the major support around 100.40-100.60.  We will be looking an entry pattern around this area.  If we break below the wedge, we will still look to buy all the way down to 100.10.  Once we break 100.10 then we can sell retracements down to the 99.00.

Crude Oil futures give us more clues to help define our day trading strategy.  We see the wedge, we see the major support aronud 100.40-100.60 area from our slower timeframes, and we also plan our attack if price rises and if price falls.  Buy the wedge lows and support below the wedge.  If price rises i can buy short term with the OPEN 102.20 as the target, but avoid trading in the middle.  If price moves to the highs of the wedge im selling.

The faster timeframe 21range chart on crude oil shows us even more specifics that will help us trade with confidence.  Now we can see our opporutnity to buy the lows of the wedge will be more likely around 100.75 or higher.

The mini-russell futures trading in a short term bull channel which tells us to buy pullback with new highs, making sure our entry rules confirm and looking for market personality.  The market’s personality this week has been sluggish, so be sure to check for that when you take the trade.