October 14, 2013

Major Futures Markets Day Trading Strategies

Crude 60-Minute

Crude Oil has pushed up from the lows at 100.60 and is now rejecting out of the TZ Sell area and pushing lower. I am looking to sell this market further down to the LC Zone below  us while also targeting the overall lows back at 100.60. We are also currently sitting inside a TZ Long area. If we continue higher, I will also look to buy higher to the BMT at 102.62.

Euro 60-Minute

The Euro has broken above the wedge highs with some VERY big conviction and is pushing higher. With such a large push higher I will be looking for a bit of profit taking. I am looking to sell this back to retest the wedge highs as a profit target. If we continue higher, I will also be looking to buy this market higher to the 1.3609 – 1.3611 swing highs as well as the overall high at 1.3649.

Gold 60-Minute

Gold is currently trading into the wedge highs. I am looking to sell this market back off these wedge highs back to the 1277 buy zone first, but overall targeting the wedge lows around 1260.7 as well as a possible blow-off to the swing level below that at 1259.6. Once we reach the 1277 buy zones, I will also consider longs if the pattern looks good enough.

Russell 60-Minute

The Russell had a pretty large gap lower on the Sunday OPEN at 6pm EST. With this gap lower, I will be looking to buy this market higher first with assumed profit taking and position closing but with the distance we are away from the BMT and buy zones below us, we will start to see those levels become magnets that will pull the market lower into them around 1064.9 currently.

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    schooloftrade

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