5 Patterns for FOMC Trading; Capitalize on Traps
We’re headed into the FOMC Announcement tomorrow afternoon, one of the biggest news events of July; our job is to get to our desks early for the best setups before things slow down into lunch…
Looking at the charts – balanced ranges will continue to play a role on Wednesday, and where there are ranges, there are lot of trap opportunities to catch rookies trading breakouts – are you with me? Let’s get started…
E-Mini S&P Tries to Fill the GAP and Pendulum Swing…
E-Mini S&P is bearish and trying to break free of today’s trading-range; the strength of this recent move lower is a big clue, telling me to look for a buyer failure setup off the high of a new channel to complete another leg in the same direction…
- Sell the High of the Hidden Channel using a Buyer-Failure Pattern
- Sell the Bounce off a Developing Spike & Channel Going Lower
- Buy the 123-Reversal into Hidden Channel Pullback on Strength
Crude Oil Back in the Middle of the Weekly Range…
Crude Oil is bearish and finished today’s session inside a range; the range will act like a magnet, and since the bears have control, my plan is to look for sell setups at resistance levels above the range using bull-traps and buyer failures…
- Sell Above the Range using a Buyer-Failure Pattern
- Sell the 2-Try Trap on Strength Before the Triangle Low
- Buy the 123-Reversal on Strength for a Retest of today’s High
Gold Whips Around the Range Ahead of FOMC…
Gold is range-bound with a strong bull bias; the range will continue to act like a magnet until the bulls can show us proof, and in the meantime, I’ll be looking for sell setups using a “nested” failure pattern above the highs of the range…
- Sell Above the Range using a Nested Buyer Failure Pattern
- Buy the 2-Try Trap on Strength Before the High
- Avoid the middle of the Range
