Best Patterns for FOMC; Hidden Channels, Breakouts & Traps
We’re heading into the FOMC Announcement tomorrow afternoon, which tells me to keep an eye on the clock because the window of opportunity will be much smaller than normal…
Looking at the charts – Crude Oil and Emini ES are looking to snap back into their ranges, while Gold appears to be playing tricks with us before the news – we’re ready for the action, are you? Let’s go…
E-Mini Sellers Waiting to Trap the Bulls…
E-Mini S&P is bearish as price attempts a snap back into the range from earlier today, but with recent higher-highs and lows, I’m hoping that buyers will try buying this next pullback so I can sell into their stops for a collapse back to the lows…
Crude Oil Sellers Must First Respect the Bulls
Crude Oil is bullish, but a strong bear response off the “Weekend GAP” tells me we’re likely headed back to this morning’s range; my only challenge is waiting for the buyers to try twice before I sell into their stops with a nested failure pattern tomorrow morning…
Gold Buyers Need to Stay Patient…
Gold is bullish with a strong move higher today, which tells me to look for buy setups off the low of a new hidden channel; the challenge is the pullback, it’s a little too strong, so I’m going to wait for the opportunity to “trap in the sellers” before I look to get long on Wednesday…
