Trading the FOMC Reaction

Markets are explosive in reaction to this afternoon’s FOMC Announcement, and with such strong moves to finish today’s session, it’s no doubt that we have some more fireworks coming for Thursday.

Crude Oil Has Multiple Targets Overhead

Crude Oil is bullish into a Spike & Channel, which tells me to wait patiently for a DEEP pullback down into my battle-zone for the most reliable buying opportunities on Thursday morning.

And don’t forget, we have two weekly resistance levels waiting overhead, so don’t get caught chasing it!

E-Mini S&P Wants to Bury Today’s Low

E-Mini S&P is bearish with a strong reversal off today’s high, which means I’m looking for sell set-ups using the high of a Hidden Channel with a target down at today’s low.

And remember, the trading-range is also an important clue for tomorrow, so after we re-test the low we’re looking for a rally going right back up again!

Nasdaq Wants to Re-Test, But Will It Last?

Nasdaq is bullish and pulling back into the battle-zone of the Spike & Channel, which is a great place to look for buy set-ups – the only challenge is this falling resistance trend-line.

Knowing this, my plan is to look for buying opportunities using the ‘2-legged pullback’ pattern, so I’m waiting for the next pullback.

Gold is Running – But Do You See that Flag?

Gold is bullish with a strong spike into a flag pattern, which tells me to wait for a few legs lower before looking to buy the seller-failure going back up to re-test the high.

With that said, I’m also watching this as a possible Spike & Range pattern, which changes our plan to look for buying opportunities using the ‘2-Try Rule’.

Euro Looks Like a “Head Fake”

Euro is bullish into a flag pattern, which tells me to look for a ‘2-legged pullback’ and a re-test of the high.

But honestly, I’m worried about this 15,000 round number – which I assume is going to develop into a sideways range, thus changing my plan to look for breakout failures instead.

“A common trait among successful people is that they have friends who expect them to keep improving, and they challenge them to keep redefining the defining of success.”