FOMC Trading Strategy – SetUps to Watch Wednesday
We’re headed into the FOMC Announcement on Wednesday afternoon, which means we need to find the best setups before lunch tomorrow morning…
More importantly, the charts are messy tonight, and I can see a handful of traps you’ll need to avoid if you’re going to end tomorrow in the green – are you ready? Let’s go…
Crude Oil Buyers Have All the Momentum…
Crude Oil is bearish and trading inside a range, which tells me to buy low, sell high, and focus on failures for the most reliable setups tomorrow morning…
But look closely, you can see the buyers are starting to grab the momentum, which means the only way I can get short is to use a “nested” failure pattern..
The buyers, on the other hand, they have all the options, and Id love to see a 123-breakout so I can buy the next pullback off the low of a hidden channel before we re-test the 17.00 magnet overhead.
Can Buyers Defend This Emini Pullback?
E-Mini S&P is also bearish into a range, which tells me to buy low, sell high, and focus on failures; momentum isn’t as powerful (yet) so ill focus on buyer failures to get short above the range highs…
I’m also watching for a 123-breakout to new lows, because there’s a BIG OPEN SPACE waiting for us if we can push through the range lows…
Gold Has Lots of “Traps” Ahead of FOMC…
Gold is bearish into an expanding triangle, which is very similar to a range, except momentum becomes an issue when the triangle gets wider, as it is currently…
Knowing this, my plan is to buy low and sell high of this range, but ill need to rely on “nested” failure patterns to make it reliable…
