August 7, 2013

Major Futures Markets Day Trading Strategies

Crude 60-Minute

Crude Oil is at the low of the wedge and nearing the low of the overall channel. We have had a bit of a blow-off to the downside going towards the channel low. I am looking long overall if this blow-off holds and we close back up, but if we continue lower I will be looking to go short to the channel low and to 104.00.

Euro 60-Minute

The Euro is bouncing off its minor wedge high above and failing back lower again. I am looking short back to the wedge low and the BMT at 1.3256. If we push a bit higher I will be looking to scalp long for a blow-off above the minor wedge and testing the major wedge high. 

Gold 60-Minute

Gold is at the wedge lows right now and bouncing higher. I am looking to go long to the wedge high and possibly a slight blow-off to the BMT at 1304.9. If we get another push lower I will be looking to sell below 1270.6 to go further down.

Russell 60-Minute

The Russell ended up pushing below the BMT and is now consolidating in the overall TZ Buy Zone. I am looking long short term back to retest the BMT at 1050.3 and then fail back lower down to the wedge lows and possible a bit lower to 1042.0. 

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