My strategy for FOMC in 30 min:
I'm currently long (SL break even) at 1.21 and will TP at 1.21258 where I will enter short and expect price to go to 1.19822 where I'd buy. It could also bounce off 1.20779 , I will need to pay attention to that as a possibility.
If price breaks above 1.21258, then I expect this to shoot to the moon until 5 pm where if the 4 hour closes above 1.21736 (I would expect somewhere close to 1.22), I expect a pull back to 1.21258 before it makes new highs.
If prices breaks above 1.21258 and bounces down from 1.21736, I expect this to drop to 1.19822 , but I'm not really feeling that one.
Any other scenario I will sit on the sideline. Goodluck everyone!
I'm currently long (SL break even) at 1.21 and will TP at 1.21258 where I will enter short and expect price to go to 1.19822 where I'd buy. It could also bounce off 1.20779 , I will need to pay attention to that as a possibility.
If price breaks above 1.21258, then I expect this to shoot to the moon until 5 pm where if the 4 hour closes above 1.21736 (I would expect somewhere close to 1.22), I expect a pull back to 1.21258 before it makes new highs.
If prices breaks above 1.21258 and bounces down from 1.21736, I expect this to drop to 1.19822 , but I'm not really feeling that one.
Any other scenario I will sit on the sideline. Goodluck everyone!
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