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Godot: I missed part of your question. I am attaching a chart of today's Russell You can see that the uptrend is intact on the 5 min time frame I will go back and get the chart from the day after the last FOMC announcement (Dec 14, 2005) and post it next.

SteveOsborne Thanks for the kind words. As long as you guys can follow the thread and get what you want out of it, I can handle the rest. You can always PM me if you want. Be assured I have no axe to grind. Good luck Steve

By the way, I really appreciate the kind comments from you guys. When I was a lot younger, I was fortunate enough to meet a generous guy willing to teach me. It was pure luck. He asked me to pick a time and try to do the same for other folks. I feel good about trying to help folks, especially...

Godot: The way I was taught was to give PRIORITY to trades with the trend. You may have noticed that I use a channel in my charts. The way I determine trend is to view price on three time frames using the channels to show me trend direction . Daily, 60 min and 5 min. I start with the...

Hey Folks: Sorry I have been out today. I have a family member ill, so I will be unable to post regularly for a couple days. Let me start by replying to Wanderer: I did not trade the FOMC this time (reason above). You question is a good one and it allows me to talk briefly about a rule...

Hello: Just wanted to offer my own method for taking profit. I look to pivots and previous price day's price consolidations as points where I plan to take profits. To illustrate this I have a chart of today's action using 5 min bars. I have put in a hypothetical trade, and I show...

Kind of you to say so. Thanks.

Bitstream: I am glad to receive any intelligent comment. You don't need to be trading futs. If you are interested and have the capacity to think critically thats enough for me. The pivots used in my charts are not modified, they are daily pivots that come with Esignal. Part of the reason...

Sorry Samson/Woody, your comedy act isnt appropriate to the thread. If you have something of substance to add do so, or leave. Steve Edit: Dealing with children can be such a pain in the ass: :) Each time you do this I am going to respond the same way. At this point in time the...

Bitstream: For those who use Trademaven or similar utilities, you could have dialed in "contracts >100" and volume at price and seen where the smart money was positioning. There are several ways to do this. One is to look for consolidation and refer (again) to a utiltity that shows big money...

Coolweb That's fine. I suggest you start your own thread where you show traders how to do that. Here for the moment the subject is "trading the FOMC". If you have something of value to add, please do. Thanks Steve

Okay I am back and wanted to put in a chart of the day's action Check out the moves and refer to my previous posts regarding the use of LRC and pivots. Today was pretty neat because you could see price move to test the pivots. Also you can see the false spikes (springs & thrusts) and...

Hey guys: I see you losers are still at it. No trades today? Woody is a sock puppet for Samson here is a PM sent to me by "Woody" woody008 Registered: Jan 2006 Posts: 3 Is this your audience? post from today: I lost my initial grubstake my grandmother left me. so I...

Okay I am REALLY out of here now (I will do anything to avoid the dentist I guess) Check this chart out OC (today's Russell w/5 min candles). Hope it helps. Steve

Optioncoach: Just a suggestion. Try looking at SPY with a LRC (linear regression channel) in place (keep the pivots on). If you have the ability to do so, look at daily, 60 min and 5 min charts with that setup. What you will see is a confluence of pivots and the channel lines Where...

Haha yes that one works 100% For those who actually play this move, the bigger players position themselves with bracket orders and hedges in related markets. They go a step further than I have here. What they have is accurate information that shows how the influence of the announcement...

Pivots..Previous highs/lows/closes What I notice is that on the announcement, the fakeout move down is often a test of some price point including pivots previous high, low and close. Those of you who use pivots can bring up your charts and check it out. I always look for price to test the...

OK, but how does that help us to manage risk?

Now for anyone who wants to get into this what I suggest you do is to go back in your historical data and look at how price acted on each previous meeting date. Compare that with the announcement news and you can start to develop scenarios for yourself The next step is to papertrade the...

Trading the actual move There are a couple of ways to trade the actual move 1. You can try to hit the spike move if you are confident that you know how it will go (I don't recommend it) 2. You can place a limit order above and below the market trying to catch the reversal move back down...