Long from 1515.25, 1 point stop. First target 1517.50. Scalp trade. EDIT: Well that was a bad idea. Stopped out for -1. Gonna leave it alone for awhile.
Charts for KBH, HOV and TOL sure look like a Wyckoff spring. TOL looks like it has completed its "jump across the river" but KBH and HOV have not. CFC looks different than the other three, not so clear whether it's turning. <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1710047 width=700> Click on link below for full-size chart.
all days are same..nq...buy dips sell rallies....fomc is no different...except at announcement time you should understand playing with no stops there is dangerous for your account. your finger ain't that quick. the smart guys give it a few bars wipe big bars away and off the chart and continue as normal.....just as before announcement....
Nice charts, can you comment on the "jump across the river" from Wyckoff, is that refering to consolidation?
Somebody on another thread was talking about a long straddle (buy call, buy put). This can be a profitable trade if you know when to chop a leg. Good trading. Edit: I should say on fed day where there is heightened volatility.
Damn, that spike just tagged my trailing stop, out at 1518.75. Thought it was out of the noise, but guess not. (On the telephone, not paying attention.) +1 and +2 on this trade.
Ascending wedge...bearish. <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1710228 width=700> Click link below for full-size chart.