Using the 8-hour chart on the Wednesday of an FOMC release, I use a purple line on the 10am EST 8-hour candle's open as the FOMC release price point.
I then use a purple highlighter to signal the date of the release.
I have come to the conclusion that the Dow Jones Futures moves and finds support/resistance using the FOMC releases. Nothing else on the chart matters BUT each release.
There are only 2 ways these levels are used.
1. Support and Resistance levels
2. Mean Reversion levels
I have not found a single source on the ENTIRE internet that describes this phenomenon and would like to think I am quite lucky for stumbling upon this observation.
Below are examples of how/what to look for when using these levels.
Step 1:
On the 8 hour chart, mark the 10am EST opening price of that candle with a purple line and highlight
Step 2:
Project it across and see how price reacts. It will either mean revert or bounce from it
It is hilariously funny to me that price stopped dead within a measly 84 ticks away from the DEC 2023 FOMC level before bouncing.
Support and Resistance:
Mean Reversion:
Price mean reverting around the 10am opening price of FOMC Wednesday.
I then use a purple highlighter to signal the date of the release.
I have come to the conclusion that the Dow Jones Futures moves and finds support/resistance using the FOMC releases. Nothing else on the chart matters BUT each release.
There are only 2 ways these levels are used.
1. Support and Resistance levels
2. Mean Reversion levels
I have not found a single source on the ENTIRE internet that describes this phenomenon and would like to think I am quite lucky for stumbling upon this observation.
Below are examples of how/what to look for when using these levels.
Step 1:
On the 8 hour chart, mark the 10am EST opening price of that candle with a purple line and highlight
Step 2:
Project it across and see how price reacts. It will either mean revert or bounce from it
It is hilariously funny to me that price stopped dead within a measly 84 ticks away from the DEC 2023 FOMC level before bouncing.
Support and Resistance:
Mean Reversion:
Price mean reverting around the 10am opening price of FOMC Wednesday.
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More Examples below of support and resistancesNota
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I am short off of the September 2024 FOMC level using a 150 tick stop and a 480 tick target. The market dumped 200 plus ticks off of this level right near the end of the day and hit this level by a mere 10 ticks. Wierd:?Nota
Trade closed for a 2.25 to 1 on the Asia opening. All based around September's FOMC level of 42,755
Exención de responsabilidad
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.
Exención de responsabilidad
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.