What’s the best way to trade the day after FOMC?
- Published on: Wednesday, January 27, 2021
- The key is patience, because the big moves we saw today will likely either reverse or turn sideways going into Thursday morning, giving us a clear plan of attack…
Remember, professional traders don’t trade these big news events, we trade the “reaction” the following day – that’s where the easy entries are…
The Eminis pushed lower today, and I'd love to trade the crown reversal pattern off today’s low.
Crude Oil was a wild one, but the bulls finished with control, so I'll be looking to buy long using seller failure patterns. And let’s not forget…
Gold is bearish, but closed above a key support level today, so I'll be looking for opportunities to trade the snap back to retest the high. Are you ready for tomorrow? Let’s go!
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Please remember that economic news, both scheduled and un-scheduled will increase volatility and decrease liquidity in the market in the short-term, which causes price-action to react inconsistently with the levels of support and resistance mentioned in this video. Trading during economic news reports is dangerous and highly discouraged, no matter what your level of experience.
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- Source: https://youtu.be/6ebkWsNsOsA