Some days it just doesn’t pay to get out of bed too early. FOMC days are sleepy with few Institutional traders wanting to add to positions just ahead of news. Protect profit time and think rangebound until 2 PM.
Make a Decision
Keep it simple and avoid Paralysis by Analysis
Only one way to know for sure and that is hindsight
Take partial profits, adjust stops and allow trailers to run
Does it make sense ? Make the case for the alternative scenario
A flatlined Blue moving average on a 30 minute Globex Chart suggests the calm before the storm. We cannot expect big movements until we get a catalyst like a news event. Then we look for action/reaction ideas and try to catch a piece of the move.
Buy the Rumor Sell the NewsThe more things change the more they stay the same
What constitutes a reason to trade?
Action, the need for Speed?
Earn a living?
Supplement our income?
Grow our capital?
We all need to answer that one ourselves.
The Summertime Blues
9:38 E edge for small squeeze this morning goes to longs as we start above blue line 5rth
save powder idea for later today get 1 or 2 points can use as seed capital then
Resolving First Battlefield
8:35 E: should be 91 as… 8:36 E i dont believe any of the bogus numbers that come out just try and anticipate the swings. look how they sweep above yest high then come back thru it and use 94 demon to range trade south. 91 angel so 91/94 battlefield #EMWS #keepitsimple
Over the years we have noticed a pattern for FOMC days.
Buy the rumor sell the news usally applies.
From a position or swing standpoint, the market likes to grind up.
Focus is on the Angels and buying support hoping to move towards next resistance targets.
Flat by lunchtime for primary traders on news day.
Notes from War Room
E [10:50 AM] bottom of pipe id 91.75
E [11:02 AM] red line turn to kick in
E [11:14 AM] flat top, higher lows squeeze machine reminder on FOMC long lunch idea dont get caught is the drill longs can play fed up but once we get a smackum bar must take stop out
E [11:31 AM] timing trade flat by 11:50 allow time to abandon primary trade and not get caught at lunch
double top 96 should have all stops up by now if long
Expiration Theta Burn
Fed UP rarely disappoints ow.ly/oIY130ktR1f plan: 9:39 E save powder idea for later today get 1 or 2 points can use as seed capital then. 10:50 E bottom of pipe id 91.75 11:02 E red line turn to kick in 11:14 E flat top, higher lows squeeze machine. Theta burn
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