Quote from johnpinochet:
No problem. I am not comfortable holding the YM for too long as I'm not 100% familiar with the ups and downs it takes as it makes a measured move.
In any event, I keep a chart with your times from previous days where I've drawn the horizontal lines just as you have. I've used lines going back a day or two and have done quite well today, simply shorting either a break beneath or a return to a line after a break beneath the line.
John,
please notice we are in the "post FOMC zone". It means that reversal trades are working better than momentum ones. This is short term tendency which is valid several days after FOMC - you can study historical charts and prove it. You are right using past levels, but be careful doing that when we are not in the "post FOMC zone".