Best Set-Ups for FOMC

Markets are consolidating into sideways ranges ahead of tomorrow afternoon’s FOMC Announcement, which gives me a clear plan for Wednesday morning…

But looking closely at the charts tonight, it’s easy to see the traps to avoid and the prime set-ups to look for tomorrow morning – Are you ready?

Crude Oil Needs More Information…

Crude Oil is bullish with it’s biggest run higher in almost 6-months, but it’s how we finished today’s session that tells me to look for one of four possible set-ups for tomorrow morning.

E-Mini S&P is Waiting for “Traps”

E-Mini S&P is bullish into a trading-range, which tells me to look for buy set-ups below the range using failures and bear-trap patterns.

But the big clue is this rising support trend-line we see on the chart, giving me the opportunity to use that key support level to buy into the stops of the counter-trend sellers.

Nasdaq is All About the “Little Clues”

Nasdaq is bullish into a trading-range, which tells me to look for buy set-ups using failure patterns below the low of the range tomorrow morning.

The biggest “little” clue, however, is the recent lower-lows on the chart, which will likely give the sellers the confidence to look for sell set-ups at resistance levels overhead…

And since this market is bullish, my plan is to wait for those sellers to “take the bait” and buy directly into their stops.

Gold is Coiled-Up Ahead of FOMC News

Gold is range-bound with a triangle pattern, telling me to focus on failures around the “edge” of the triangle, with the target going back into the middle of the triangle.

And don’t forget the potential breakout at the triangle’s vertex – you don’t want to chase that breakout, because the more reliable strategy is to fade it instead.

Euro is Range-Bound (Again)

Euro is bearish into a trading-range ahead of tomorrow’s FOMC announcement, which tells me to look for sell set-ups above the range highs using buyer-failure patterns tomorrow morning.

And if price tries going lower, remember that measured-move is waiting down there, so my plan is to use a bull-trap set-up to short it on the way to the target.

“Study while others are sleeping; work while others are loafing; prepare while others are playing; and dream while others are wishing.”