September 16, 2020 — WEDNESDAY AM
The ES and NQ are both trading 30% of ADR heading into the RTH open today, and ahead of today’s FOMC Statement and Rate Decision at 1pm CT today. We’ll get another FOMC Key Level, which we can then use for analysis and trading moving forward. Crude Oil has gotten a big breakout from the narrow trading range, and could be headed even higher. Gold remains range-bound. Look to avoid the chop until the breakout day occurs.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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