Don’t Make These Mistakes on FOMC!

FOMC is Tomorrow – Are You Ready?

Tomorrow’s FOMC Announcement might be the biggest news of the year, but the window of opportunity will be very small, so we need to make every trade count!

The key to success will be “trapping traders” on the wrong side of the market, and avoiding the classic FOMC Day mistakes we’ll talk about in tonight’s video.  Tomorrow’s going to be a great session, but you’ll need to avoid these mistakes…

E-Mini S&P (ES):

E-Mini Keys to Success:

• Bears took control right away and ran price back to the Weekend Gap where price traded sideways with a new (bearish bias) range.

Best Trades for Tomorrow: 

• Range = Failures, Rotation, Breakouts
• Sell the deep pullback with nested failure
• Sell the shallow pullback with traps
• Sell the breakout going lower
• Buy the bounce reversal off the lows
• Buy the breakout and trap before we retest highs

E-Mini Nasdaq (NQ):

Nasdaq Keys to Success:

• Bears have control with price-action grinding lower as it heads back to the Weekend Gap and the range from late last week.
• There have been NO traps today, so I would assume sellers will be waiting to short the next bounce.

Best Trades for Tomorrow:

• Trend = Continuations, Reversals, Watch for new ranges
• Sell the trap into failure into pullback combination off channel high
• Sell the deep pullback with buyer failure
• Sell the breakout running lower
• Buy the 123-Reversal off the lows
• Buy the traps before we retest major highs.

Gold Futures (GC):

Gold Keys to Success:

• As expected, price traded sideways inside the range with buyers getting in just below the lows, but they weren’t able to complete the pendulum-swing rotation above the highs which eventually led to price collapsing back down on strength
• With bears in control, sellers will be looking for shorts off the high of channels, or breakouts going lower.

Best Trades for Tomorrow:

• Trend = Continuations, Reversals, watch for new ranges
• Sell the trap into failure into pullback combination off channel high
• Sell the deep pullback with buyer failure
• Sell the breakout running lower
• Buy the 123-Reversal off the lows
• Buy the bounce reversal off the lows.