August 27, 2013

Major Futures Markets Day Trading Strategies

Crude 60-Minute

Crude Oil has had a HUGE push higher on uncertainty in the east. With all of that concern, Crude just keeps moving higher. We are now at the wedge highs and I am looking for some profit taking here. I am looking to sell this short back to a retest of the wedge highs below us. If we continue higher, I will be looking long with this strength but will be looking for scalps as we are moving into sell zones above.

Euro 60-Minute

Euro has now pushed below the BMT and is closing below the wedge lows confirming this move lower. I will be looking short with this strength to 1.3299 and possibly lower to 1.3280. If we do end up pushing back into the wedge above I will also consider buying this up to the wedge highs and higher.

Gold 60-Minute

Gold has been a tank pushing higher all the way back from the 22nd to the 23rd and higher. Now that we are above the sell zones and pushing higher I will be looking for buying opportunities up to 1424.0 and higher. If we begin to fail I will also be selling down for a retest of the wedge highs below us.

Russell 60-Minute

The Russell is pushing into the wedge lows right now after failing a bounce at the BMT. I am looking to take this short lower to the wedge low before looking for a potential bounce long back to the BMT at 1032.5. If we begin to move higher, I won’t be very interested until we get above the BMT so longs look as though they may be out of the picture today.

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    schooloftrade

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