Hello everyone who reads this,
The big question on everyone’s mind: Which way will the FOMC interest rate decision send stocks and gold?
Here’s my two cents and how I plan to approach it.
🧐 Market Overview:
I’m seeing rising wedges on both the Dow Jones and the S&P500 across multiple timeframes. Rising wedges typically lean bearish.
Dow Jones: To play it safe, I’ll wait for a break + retest. If it breaks down, I’ll wait for the retest and then look to go short and vice a versa on the long side.
FOMC generally causes a lot of volatility and I don't want to get whipsawed around, hence I am taking a more conservative approach by trading the retest, which might only happen tomorrow.
S&P500: The hourly rising wedge has already broken to the downside. On the retest, I’ll be watching for short setups. If the retest holds, it would also confirm a double top, which adds further confluence.
If stocks break down on FOMC, expect BTC and alts to feel the pressure.
🙏 Thanks for checking out my post! It would be great to hear what your thoughts are about the interest rate decision and what trades you are looking at. Lets make money together!
📌 Please note: This is not financial advice. This content is to track my trading journey and for educational purposes only.
The big question on everyone’s mind: Which way will the FOMC interest rate decision send stocks and gold?
Here’s my two cents and how I plan to approach it.
🧐 Market Overview:
I’m seeing rising wedges on both the Dow Jones and the S&P500 across multiple timeframes. Rising wedges typically lean bearish.
Dow Jones: To play it safe, I’ll wait for a break + retest. If it breaks down, I’ll wait for the retest and then look to go short and vice a versa on the long side.
FOMC generally causes a lot of volatility and I don't want to get whipsawed around, hence I am taking a more conservative approach by trading the retest, which might only happen tomorrow.
S&P500: The hourly rising wedge has already broken to the downside. On the retest, I’ll be watching for short setups. If the retest holds, it would also confirm a double top, which adds further confluence.
If stocks break down on FOMC, expect BTC and alts to feel the pressure.
🙏 Thanks for checking out my post! It would be great to hear what your thoughts are about the interest rate decision and what trades you are looking at. Lets make money together!
📌 Please note: This is not financial advice. This content is to track my trading journey and for educational purposes only.
Trade attivo
Couldn't resist opening a short with all these rising wedges on NAS, russel 2000, S&P and Dow Jones.Opened short at 46 267. SL at 46 450
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.