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FOMC Pre Market Plan | E-mini S&P 500

I know none of us should really be trading today. Let me say that right off the bat so we can all look back and know I told you so.

However, Traders gonna Trade. So that being the case here are my scenarios:

A) Impulse move down to 4224.25 and look for responsive Buyers. Might even step in at PDL but 24.25 is optimal. Long for a move back into balance where eventually we move to PDH and above.

B) Open in Chop – WAIT THE FIRST HOUR OR MORE – and look for a break higher pullback to get long.

C) Impulse move up – WAIT FIRST HOUR OR MORE – look for a pullback to get long.

D) Only short I am interested in today, prior to FOMC, is 54.75. Reference the call yesterday. Same thing.

Ultimately I expect this thing to do nothing or move into nothing and then get stupid for the FOMC. Remember you have the announcement and then J POW speaking for pretty much remainder of day.

So if you get down early. Suck it up and go do something else. Likelihood of you getting it back is pretty much 0% once FOMC gets going.

Trading Futures, Options on Futures, Options, Equities, Cryptocurrency and Retail Off-Exchange Foreign Currency Transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment.

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For more information visit: https://thepitfuturestrading.com

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