Enlarge any chart by clicking on it.

Unless otherwise specified, ALWAYS use the 15min chart to enter my recommended plays because
CONFIRMATION is a MUST.
In other words, you need to see a 15min candlestick that CLOSES beyond
the entry point, then enter when it moves 10cents after the high/low of that candlestick.

Wednesday, February 19, 2014

AAPL, SPX

Today was FOMC Day. I did not realize it when I posted yesterday and over the weekend otherwise the posts would have been different, and I would have posted my warning as I normally do i.e "every play made ahead of FOMC report is aggressive". It means open plays can be closed just prior to the report (and entered again after the report) or stops tighten. Unfortunately, I tend to forget checking the economic calendar because it does not make a difference on my analysis since I don't make decisions based on news. I let my stop loss take care of the news.
But FOMC Day is different because it is a major market-mover (even though everyone knows what they will do most of the time), and also because the report usually comes out at 2pm ET resulting in volatility before and after the report (on the day of the report). So the risk of being stopped out (of daytrades/swingtrades) is high.
I usually notice it when it is too late to do anything to warn (like late last night). So be careful with my posts/open plays going into FOMC report. I will also create a link to Bloomberg economic calendar to help avoid this problem again since that will give me a reason to check it every day.

AAPL-15MIN


SPX-DAILY III


SPX-DAILY II


SPX-DAILY I


SPX-30MIN II


SPX-30MIN I


SPY-15MIN