Yesterday’s FOMC news session was one of suspended animation for the emini markets. Typical of these new split-decision sessions, price action across all markets was non correlated and spastic. I had not traded thru any of these before, accomplished nothing and certainly will stand aside from emini trading any future sessions as such.
Rollover Thursdays and split-news FOMC days are official days off for me from emini trading… no sense in watching sideways chop offering no profit potential all day. We’ve got much better things to do with our time, all of which center around not missing out on life itself.
Today is the other side of that: high-odds potential for a large range and probably trend direction session. We’ll be targeting roadmap price objectives above or below as entry signals dictate, and holding for big gains with multiple positions at every chance.
Whereas yesterday offered nothing, today has potential to offer everything and then some. Two sessions remain this week, more than enough time to make this calendar month complete.
For more daily updates from Austin, visit his blog at Coiled Markets.