For today I have a pivot zone defined between the range of 3960 and 3940. Open above 3960 will send the market to one, or all, resistance points above. Open below 3940 will send the market to one, or all supports below. As always, exercise caution when executing a trade and do not chase if you miss an entry.
Opening within the pivot is grounds for sitting on your hands until the market decides a direction -- bids above 3960 or below 3940.
With FOMC today, we may chop until 1400 est.
Opening within the pivot is grounds for sitting on your hands until the market decides a direction -- bids above 3960 or below 3940.
With FOMC today, we may chop until 1400 est.
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Going long off the break of pivot yielded a +18 long with exit at 3980
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HOD at 3984.
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Ended with HOD at 4042. Follow the plan and you will be rewarded.