Another pre-FOMC chopping week as we have seen in the past FOMC meetings this year. Clearly we are in the downtrend, but the questions are: 1) do we get capitulation down to 4000/4050 (potential bounce) or 2) do we bounce to 4350 after 4 weeks of selling and fade? Most likely chop between range 4120 - 4300 and then a direction will be picked for us post FOMC...
Trade active
Face ripper end of day today & back into range top woof woof
Watching overnight future, does it gap up and go to 4350 then 4400 or back lower into range bottom 4250 then 4170? I am positioned for both with profits so just watching the action for now Still in the downtrend but bear market rally could make great profit for traders
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.