Wednesday, February 16, 2022

FOMC today. This set up a long and then subsequent reversal crash the next two days.

Open

Day

Trades

1. Off of the open, 1m made some bearish setups along the 1m 21 and crashed, but 5m came off 34 around 5 AM. No place to enter this move after 6:30.
2. Red circle: 5m came off of 34 with a bearish engulf and convincing drop, but did not finish the 34 new low.
3. Yellow box: 1m pulled up briefly at the 34 for a sharp move as part of #2, but did not get through the 5m lows. Still a great short, 70+ points.
4. Yellow circle: FOMC set up a long, popped up and came back to break the base, forming a bullish harami along the 34 for the best long entry.
5. Purple circle: 1m ran up, pulled back to the 34, and ran again. Exit would have been anywhere at the highs when 5m got stuck and made some 7Js/weak bearish signals.