My FOMC Meeting Trading Plan

My FOMC Meeting Trading Plan

Transcript

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What’s going on so today is an important day you have the fomc meeting at 2 and it’s going to be an important one actually this is probably the most important one in a long time um the market is on the brink of rolling over um depending on what they talk about rates um my target to the downside um would be the 200 which on the NQ is right around uh you know 1637 is what is it oh 16 600 I don’t

Know obviously it moves up every uh every day that there’s a uh a candle made but uh yeah somewhere around this this range would probably be my uh my target if what is said is not um bullish I mean you can see we’re rolling over on the fer the macd um for people that trade the cues I’ll bring up the daily I mean I I was looking at yeah like around 400 400ish um you know it’s only about 5% down so

It’s not you know not talking crazy it’s just uh that’s what I could see uh to the downside you know we had the GDP numbers that that were not great um but then it was kind of offset by uh earnings that were good by Google Amazon had good earnings um I think meta was a double beat also but the market reacted poorly to it um there was one other earnings also that were that were good um Amazon maybe it was oh

Google I forget I got to look so much stuff is going on but yeah so Tech earnings have been pretty pretty decent um I know AMD reported they were down yesterday um you know I think a lot is being waited on this meeting today but Tech earnings have been solid so I think it’s definitely propping um the market up I think Apple reports tomorrow which is obviously a huge one and they’re talking about iPhone sales being down so I I don’t

I don’t really know I’m not building a long position here um if anything I have reduced I actually reduced it yesterday um so this green lines to 34 and you can see Every Time We Touch it we bounce um on the way up so usually that will become resistant so when we hit it up here I basically unloaded the majority of my positions um except for ones that I have that are out you know many months or till next year so

You know I I’m kind of a lot is being waited on on the meeting today um you you know but my overall Target for a pullback would probably be the 200 and then I would say you know even before we get to the 200 like say we get around 404 I’d probably be starting to add add there because you’re never going to add it at the exact bottom um so you know i’ probably add if we got at 404 probably obviously

At 400 and then if we continueed to go lower I’d probably um add position and my absolute bottom for a pullback would be this line it’s the 377 and that’s at three uh you know 377 is so I mean that would be to me um the absolute bottom and actually by the time it caught down there this line would probably be up here which would coincide with the bottom here and the peak here and it would be a solid uh a

Sol solid place to bounce that would probably be you know where where my bottom bottom is let me just pull up a week I mean you can see I mean obviously right here with the 34 is on the weekly is the old top you know so there’s support there we didn’t actually touch it but we got super close and that’s close enough for a solid bounce it’s pretty much where we’re at now um no not sorry we’re up here you know

What it is trading view put the price here but the price there is 407 and we’re still up here so yeah I mean you know on on the weekly I definitely you know definitely see it coming down now obviously you know they come out and say some good stuff about rates um you know we can pop back up to you know maybe highs again you know a lot ways on this meeting um you know I think honestly it just feels like

They’re not cutting rates this year um maybe they cut once near election time you know kind of before um but it kind of feels like originally they were talking about all these rate cuts and then it just got smaller and smaller it just kind of feels like maybe they’re going to cut once [Music] um just you know the way it feels it feels like that uh yeah so I mean my trade plan today uh let me see what we got so

Usually when they come out with the meeting um the meeting information the first move is typically the wrong move so you’ll get like a like say you you’ll get a wick up up real quick and then it’ll Wick it’ll come all the way back down and then the move is down or same thing like you’ll go down for the like 30 seconds or sometimes even like 5 seconds and then it’ll come right back up and rip so typically I Look to

Play after 30 to 45 seconds when the move actually decides what way it’s going to go and then typically I’m in for a scout um I do not put orders in prior to try to catch you know the big move one way or another because like I said I’ve seen it where it flashes up and then flashes and then comes right back down where you couldn’t get your orders um in fast enough and you would have just got destroyed so my

Plan is probably not to trade much after uh 1:00 they probably we’re probably going to chop around a bunch I would assume we’re going to get some type of move early early on in the day um one way or the other and then that’s probably going to the End by 10:30 or 11:00 I’m probably going to go for an early lunch make sure I’m back by about 1:30 and um yeah and probably you know if I was to take a shot

And it say it flashes up on fomc like instantly I might grab like five micros to the downside for it to sell off that big candle um obviously I put stops in but I’d probably be willing to risk three $400 you know like argument sake it happens right now and say we Wicked from you know 58 to you know 502 or 520 I’d probably go short and put a stop up somewhere around you know 550 you know give myself about 30

Points um a room to the the other side and wait for it to go back the other way uh other than that uh I would probably put protection on because if it’s bad um like I said we’re going to we’re going to sell off pretty pretty solid like I said I I could see 5% down over the course of you know the next two three weeks um you know this isn’t typically strong times in the market so I would probably say

You know I’d probably put protection on and see what happens that would be my uh you know some type of hedge and you can always take the Hedge off come after the meeting but I I protect my portfolio when it comes to uh times like this and you know if you’re trading Futures cuz you’re following me cuz you know uh trading prop firms uh I would probably look to buy around this Pivot Point on a on a dip early in the

Day if we get there which would be nice because it would be uh breaking the 400 support kind of sweep below 400 and then I would buy uh around here and wait it looks like we’re not getting over vwap so if we get back up I might take a I might take a little short um we reclaimed this bottom which is uh obviously bullish here it seems like it’s holding uh yeah so I mean that that probably my my plan is

Just to make a couple of scalps during the day and look for it to come around I don’t think we’re going to see the uh the pivot up up north before the fomc meeting so I’d probably say look for a dip and then buy the dip uh that’s pretty much all I’m going to do you don’t need to trade on on days that aren’t favorable to you so before the fomc meeting I’m looking to just take scalps bounces off the 34

Maybe some or back bounces um and and that’s really it nothing of significant size and that’s pretty much what I’m going to do with my portfolios so if you have any questions just comment below and uh hopefully this helps you out navigate the market today