October 29, 2019

Best Entry Set-Ups for FOMC

Best Entry Set-Ups for FOMC
Tomorrow is “FOMC DAY”, which means we’re keeping a close eye on the time, and only taking the best entry set-ups that fit our plan – are you ready?

Buyers Have Control Again on Oil, Where’s the Entry?

Crude Oil is bullish with a beautiful 123-Reversal off today’s low, and with momentum firmly in the hands of the bulls, I’m looking for buy set-ups using key support levels tomorrow morning.

Knowing this, I have the low of a Hidden Channel, with a reversal-line, and a range-expansion zone, all stacked-up around 55.40, so all I need is the entry set-up.

E-Mini S&P is Still Rotating Back and Forth…

E-Mini S&P is still bouncing around the same range from yesterday’s session, which means the plan is the same; buy low, sell high, and avoid the middle…

And since we have a bull bias, I’m waiting for a failure set-up to buy off the 26.50 reversal-line with a target going back up into the range.

Nasdaq Bears are Hunting for that GAP Fill…

Nasdaq is bearish with a flat channel and almost five legs down in today’s session, which means we’re too low to start selling now, better to wait and sell at a higher price tomorrow morning.

Knowing this, I’m waiting to sell the channel high up in the battle-zone with a failure set-up, and a target back down to the fill the weekend GAP.

Gold is Getting Nasty Ahead of FOMC Tomorrow…

Gold is bearish and trading with a range ahead of tomorrow’s FOMC Announcement, which tells me to fade the breakouts; buy the low, sell the high, and avoid the middle of the range.

But more importantly, time is critical tomorrow with the FOMC Announcement mid-afternoon, which means I need to focus on the best entry set-ups before the lunchtime session begins.

“The Difference Between A Successful Person And Others, Is Not A Lack Of Strength, Not A Lack Of Knowledge, But Rather the Story that they are Telling Themselves.”

    schooloftrade

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