When the Fed talks – the market listens. Well, at least that used to be the case but when an FOMC Statement produces a 29 pip M30 candle, my ears prick. What am I missing here? That mystery aside, PA was sufficient enough PRE News, that one of STP’s favourite Secret Candle Patterns picked an acceleration point and gave us a beautiful trade, straight to target. Outside the muted news reaction, it was the day’s only excitement in yet another sub 50 pip range.
From Bearish to totally confused – that’s what the pivots are telling me. they are huddled like huskies on the ice, cowering from the chilliness of an uncertain night ahead. This to me, suggests PA is also seeking shelter from the cold and will more likely than not – snuggle up against them. Yes, it sounds like Groundhog Day remains in play. That’s fine by me – a repeat of yesterday will do just fine.
The Day Ahead
High impact News – CET
Have a great day everyone.