Plans for after FOMC
BTC is currently inside a range. DXY is inside a range too. ES is at a point of interest (4100-4200). Price could break in either direction, depending on what happens on the FOMC press release.
The tone of FOMC will determine what happens to what ES, DXY, and BTC will do next.
If the price reaches the lower band of the range, I will wait for a trigger on the 12h TF (SFP), expecting a bounce to some area inside a range (I expect just a retracement to then short again with more confidence)
If price gets up to the upper part of the range and forms a 12h SFP and 1h MSB, I would enter short.
Either way, if the price starts going outside the range, and stays there (weakness below the range low and strength above the range high), I expect the respective Areas of Interest to be tapped.
For confluence, I would expect ES to have the same reaction and DXY to do the opposite.
But for now, we wait for the result of FOMC.
The tone of FOMC will determine what happens to what ES, DXY, and BTC will do next.
If the price reaches the lower band of the range, I will wait for a trigger on the 12h TF (SFP), expecting a bounce to some area inside a range (I expect just a retracement to then short again with more confidence)
If price gets up to the upper part of the range and forms a 12h SFP and 1h MSB, I would enter short.
Either way, if the price starts going outside the range, and stays there (weakness below the range low and strength above the range high), I expect the respective Areas of Interest to be tapped.
For confluence, I would expect ES to have the same reaction and DXY to do the opposite.
But for now, we wait for the result of FOMC.
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