day trading strategies for intra-day trading futures

Our day trading strategy begins with the dollar index, we’re looking for possible turning points (Mmajor support or resistance) and the short term trend.  remember the short term trend can change quickly.

We quickly see the outside day, below the PLOD, and a short term trend that is bearish, and a major support level at 80.330.

If price moves lower THRU THIS SUPPORT we know the dollar is weak and we want to be buying pullbacks with new higher highs on crude oil, euro, e-mini es, any market you wish to trade.

If the dollar index bounces off this support, and starts to rise, it will need to break the highs of the bear channel and THEN we see that as our opportunity to take price reversal trades selling the intra-day highs we have on crude oil, euro, gold, russell, etc.

The PLOD is a big magnet, so look to keep selling short until the Dollar Index tests the PLOD, and then if it keeps going, we keep selling retracements with new lower lows.

Our day trading strategy using crude oil futures starts with the slower timeframe 89-range chart.  We can see the INSIDE DAY within the range from wednesday.  We can see the price wedge, which is the most important clue.  A price wedge, inside the range from yesturday says look for fake-out breakouts, fade the highs and lows, and sell the wedge highs, buy the wedge lows, avoid the middles.

Crude Oil futures day trading strategy now uses the 34 range chart to give us the EXACT price levels to consider in our trading this morning.  We see the wedge highs and the potential to turn this inside day into an outside day, and we know it will be higher risk buying above PHOD because the bull channel highs will be resistance.  Im looking to sell these highs as the highest percentage trade today.  If price moves higher im looking for a failure and a price reversal.  if price moves lower im selling new lower lows with retracements, the final target is the PLOD and the lows of the wedge if we can get short.

We took an easy short off the highs of the price wedge when our day trading strategy confirmed and now our 21-range chart shows us a double-top and our strategy for this is to sell new lower lows with retracements below 101.55 down to the major support which begins at 101.40.  We want to buy at the Double Top Support starting at 101.40 down to 101.15 and then sit on hands below 101.15 and then look for more selling opportunties below 100.20 down to the PLOD and the lows of the wedge.  Remember to use the dollar to confirm our direction this morning.

The Euro day tradign strategy uses the bear price channel, the previous day’s trading range, and two (2) trigger zones drawn from different swing highs using the same swing low.  We need to be very careful tryign to buy with new highs because of the resistance levels overhead. 

We can buy above 1.2928 only after we wait to see there is no failure, because the personality is so sloppy.  take your profit at 1.3000 on the way up and then look for either re-entry or holding a portion of your position up to 1.3080 the next level of resistance.