Tight range which is usual pre-event. Pick your entries wisely or try to stay away from the market until after the FOMC release tomorrow. Likely we will see choppy, ranging price action with spikes either side so please trade safely.
We're sharing the 1H levels pre-event. You can see the first support was hit and bounced, the first resistance of the range is broken to the upside with the 2 resistance as a possible target.
We're going to concentrate now on putting together the FOMC KOG Report.
Watch the pre-event levels and look for reactions in price.
We're going to concentrate now on putting together the FOMC KOG Report.
Watch the pre-event levels and look for reactions in price.
THE KOG Report for FOMC has been published on the TradingView. Please do hit like on the idea for us 🙏
If you're not sure, not comfortable, a little uneasy, twitchy, itchy, numb, what ever emotion it is, stay out!
The trade comes after the event, always remember that. They will move it to where they want to buy or sell, this entails them taking liquidity from extreme regions.
Be patient, best way to trade it is to let them take it to where they want. Wait for the reversal, then get in on the trade.
If you really can't sit on your hands, reduce your lot size.
We'll be back just before the release with any further updates. As always, trade safe.