Intraday Trading Tips for the FuturesThis morning we do not have any market reports that will affect the intraday trading tips for the futures.

Intraday Trading Tips for the Futures

FDAX – Both the 1440, 720 and 180 are moving up.  The 180 has a magenta price bar that may retrace 50% and the 45 minute is moving up.  without an ADX magenta peak on the 45 minute, the only entries would be to the long side.

ES – The 1440 ADX is at 80.6 (overbought) and the 720 is at 67.55 on the adx indicator.  The retracement on the 180 has completed and the 45 is moving down.  I would have one important line on my chart today from these higher timeframes – 1943.  I believe this will be a critical level because if it is exceeded we will have retracements on the higher timeframes (downtrends on the lower timeframes).

NQ – The 1440 ADX is at 74.95 (overbought) and the magenta peak on the 720 has come in.  The retracement has completed on the 180 from the ADX peak yesterday and the 45 minute is moving down (has had an ADX magenta peak and price retraced to within one point of the ATR.  The ATR on the 180 has to flip (3785) and if it does, I would be looking for shorts.

Intraday Trading Tips for Gold

The 1440 minute ADX peak retracement is still working.  The issue is the ATR on the 720 minute chart.  However, the 180 ATR at 1250.2 has held so far.  There is an ATR above price at 1255.9 on the 45 minute.  The 45 minute will more than likely determine the trend today.  If they break thru the resistance at 1255.9, the retracement on the 1440 will complete otherwise, we will see a bounce down off the 720.

Intraday Trading Tips for Crude

The 1440 and  720 are moving up.  We have a potential peak coming in on the 180 minute, which will push price down to 103.99 as it stands right now.  However, the ATR on the 12 minute will need to flip from blue to red and then a retest will occur and it should be on diverging buying volume.  Also watch out for the ATR on the 45 minute chart at 104.54.

Currency meter on the 45 minute chart is showing that the US Dollar is strong but both the Euro and Swiss Franc are approaching an oversold level.  The British Pound is showing weakness as well.