FOMC Trading Strategy
We’re headed into the FOMC Announcement on Wednesday, and with a handful of easy trading-ranges on the charts, we’re looking to catch those counter-trend trades on the wrong side of the market – and as always, I have a plan.
Crude Oil is bullish, but with price-action trading at the high of the range, my plan is to wait for the sellers to try the reversal so I can buy into their stops.
E-Mini S&P is range-bound and balanced, which means the plan is to fade the breakouts, buying low, selling high, and avoiding the middle tomorrow morning.
Nasdaq is bullish as it races back into the range from yesterday, and to avoid chasing the market higher, I’m waiting to get long with “traps”.
Gold is bullish into a trading-range, which means I’m looking to buy the low of the range, and I have a perfect combination set-up waiting for a Hidden Channel.
Euro is range-bound with a bull bias, which tells me to wait for the opportunity to buy into the sellers’ stops as they try to trade breakouts tomorrow morning.
Crude Oil is Bullish, But This Range is a Big Challenge
Crude Oil is bullish, which tells me to look for buying opportunities at support levels tomorrow morning.
Crude Oil is bullish, which tells me to look for buying opportunities at support levels tomorrow morning.
The key to the best buy set-ups tomorrow is going to be trying to catch the sellers getting in too early off these highs and focus on buying into their stops.
To do this, my plan is to use this resistance trend-line as key support to buy into those stops.
And remember tomorrow is the FOMC Announcement so time is important!
E-Mini S&P is Range-Bound and Balanced
The buyers and sellers took turns back and forth on E-Mini S&P this morning, which tells me to fade the breakouts tomorrow morning.
My goal tomorrow is to buy the low, sell the high, and focus on the 2-Try Failure pattern for the most reliable trading opportunities.
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Nasdaq is Headed Back into Yesterday’s Range
Nasdaq is bullish after the sellers tried twice and failed to hold the lows of the weekly range.
The challenge now is that the price is too high to start buying, so my plan is to wait for a pullback, ideally down at support in the battle-zone.
Tomorrow is the FOMC announcement, but don’t forget we also have earnings on the schedule late afternoon tomorrow!
Gold is Bullish with a Spike & Range
Gold is bullish and pinned up at it’s high, which tells me to look for buying opportunities at key support levels waiting below.
Knowing this, the most important levels are the low of this range, and the low of the Hidden Channel.
My plan is to stay patient and wait for a pullback, even if we keep pushing higher, then I’ll look for shallow pullbacks or traps.
And remember, Gold is most often VERY choppy ahead of the FOMC announcement, and when you combine that with Contract Rollover, tomorrow may be quite sloppy. (Stay patient!)
Euro is Bullish into a Range
Euro has bullish momentum going into this range, which tells me to wait patiently for opportunities to buy beneath the range lows using seller-failure patterns.
The FOMC announcement is tomorrow, so remember to grab those trades before lunch time settles around 11am EST.
