Best Entry Set-Ups for FOMC | Crude Oil, Emini S&P, Nasdaq, Gold

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Tomorrow is “FOMC DAY”, which means we’re keeping a close eye on the time, and only taking the best entry set-ups that fit our plan – are you ready?
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Crude Oil is bullish with a beautiful 123-Reversal off today’s low, and with momentum firmly in the hands of the bulls, I’m looking for buy set-ups using key support levels tomorrow morning.

Knowing this, I have the low of a Hidden Channel, with a reversal-line, and a range-expansion zone, all stacked-up around 55.40, so all I need is the entry set-up.

E-Mini S&P is still bouncing around the same range from yesterday’s session, which means the plan is the same; buy low, sell high, and avoid the middle…

And since we have a bull bias, I’m waiting for a failure set-up to buy off the 26.50 reversal-line with a target going back up into the range.

Nasdaq is bearish with a flat channel and almost five legs down in today’s session, which means we’re too low to start selling now, better to wait and sell at a higher price tomorrow morning.

Knowing this, I’m waiting to sell the channel high up in the battle-zone with a failure set-up, and a target back down to the fill the weekend GAP.

Gold is bearish and trading with a range ahead of tomorrow’s FOMC Announcement, which tells me to fade the breakouts; buy the low, sell the high, and avoid the middle of the range.

But more importantly, time is critical tomorrow with the FOMC Announcement mid-afternoon, which means I need to focus on the best entry set-ups before the lunchtime session begins.
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Economic News:
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.
PLEASE DO NOT TRADE DURING TIMES OF MAJOR ECONOMIC NEWS
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Joseph James, SchoolOfTrade.com and United Business Servicing, Inc. are not registered investment or trading advisers. The services and content provided by SchoolOfTrade.com and United Business Servicing, Inc. are for educational purposes only, and should not be considered investment advice in any way. U.S. Government Required Disclaimer – Commodity Futures Trading Commission. Futures and Options trading have large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don’t trade with money you can’t afford to lose. This is neither a solicitation nor an offer to Buy/Sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results. cftc 4.41 These results are based on simulated or hypothetical performance results that have certain inherent limitations. Unlike the results shown in an actual performance record, these results do not represent actual trading. Also, because these trades have not actually been executed, these results may have under-or-over-compensated for the impact, if any, of certain market factors, such as liquidity. Simulated or hypothetical trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profits or losses similar to these being shown.

Comments

Joseph James says:

The FOMC Announcement is one of the biggest reports we get as traders, and it requires us to keep an eye on the time and pick only the best entry setups. Are You Ready?

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