Best Set-Ups for FOMC | Crude Oil, Emini, Nasdaq, Gold, Euro

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Markets are consolidating into sideways ranges ahead of tomorrow afternoon’s FOMC Announcement, which gives me a clear plan for Wednesday morning…

But looking closely at the charts tonight, it’s easy to see the traps to avoid and the prime set-ups to look for tomorrow morning – Are you ready?

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Crude Oil is bullish with it’s biggest run higher in almost 6-months, but it’s how we finished today’s session that tells me to look for one of four possible set-ups for tomorrow morning.

E-Mini S&P is bullish into a trading-range, which tells me to look for buy set-ups below the range using failures and bear-trap patterns.

But the big clue is this rising support trend-line we see on the chart, giving me the opportunity to use that key support level to buy into the stops of the counter-trend sellers.

Nasdaq is bullish into a trading-range, which tells me to look for buy set-ups using failure patterns below the low of the range tomorrow morning.

The biggest clue, however, is the recent lower-lows on the chart, which will likely give the sellers the confidence to look for sell set-ups at resistance levels overhead…

And since this market is bullish, my plan is to wait for those sellers to “take the bait” and buy directly into their stops.

Gold is range-bound with a triangle pattern, telling me to focus on failures around the “edge” of the triangle, with the target going back into the middle of the triangle.

And don’t forget the potential breakout at the triangle’s vertex – you don’t want to chase that breakout, because the more reliable strategy is to fade it instead.

Euro is bearish into a trading-range ahead of tomorrow’s FOMC announcement, which tells me to look for sell set-ups above the range highs using buyer-failure patterns tomorrow morning.

And if price tries going lower, remember that measured-move is waiting down there, so my plan is to use a bull-trap set-up to short it on the way to the target.
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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

Mourad Hebara says:

New joint thinkpad for all the works you doing I think if you will like to talk specifically about the forex pairs and if any chance about penny stock short trade

Vito Lovallo says:

Very good explanation about Nasdaq that I’m trading..I only have one question..is that risky buying at breakout failure pinned 1 and 2 .Thanks in advance for the explanation.

Algimantas Baltrusaitis says:

Top gun. That is info that not everyone gives away for free. Thank you professor J.J

Elliott Kase says:

Joseph, Been watching your analysis videos for weeks now and seem to always find value in all content shared. Do you ever cover any forex pairs?

Regards

sthita06 says:

what is the moving avrage you are using and what time frame you always explain in crude chart?

Jules Bar says:

please upload also SP500 and Dax30. Thanks in advance

CR says:

thank you sir for the great video. I watch your videos at night, I also use your information with my friends that way far ahead of me in the stock market. I truly appreciate your hard work on providing valuable material. Thank you sir again.

Luciano Pucci says:

My evening tea watching my favourite professor JJ work his magic on the screen has become my evening goto routine. Thank you Sir.

Brandon Manley says:

This information is priceless, you sir just earned yourself another frequent viewer… keep up the great work!

Juan esteban Lopez says:

What timeframe do you use?

Joseph James says:

Markets are range-bound ahead of tomorrow's big FOMC Announcement, and after analyzing the charts it's easy to see a few traps to avoid, and high-quality set-ups worth looking for – are you ready?

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