Wed Pattern with FOMC minutes 7.5
Updated
This is a pattern analyzing Wednesdays where FOMC minutes are released using TQQQ.
Assumptions and Overview:
1) History predicts future
2) Note two chop zones, but by far the more severe one is at 1250 to 115
3) 1150 AM is high point
4) Note that when minutes are released there is spike in volume, and two contradicting volatile candles.
5) The price action after the minutes are published could be very different from the pattern. Depending on the information.
6) Data includes 7.7.21, 8.18.21, 10.13.21, 11.24.21 - all with a flat average. Then includes the following with .15 Moving Weighted Averages: 1.5.22, 2.16.22, 4.6.22, 5.25.22.
Always follow price action. Happy Trading!
Assumptions and Overview:
1) History predicts future
2) Note two chop zones, but by far the more severe one is at 1250 to 115
3) 1150 AM is high point
4) Note that when minutes are released there is spike in volume, and two contradicting volatile candles.
5) The price action after the minutes are published could be very different from the pattern. Depending on the information.
6) Data includes 7.7.21, 8.18.21, 10.13.21, 11.24.21 - all with a flat average. Then includes the following with .15 Moving Weighted Averages: 1.5.22, 2.16.22, 4.6.22, 5.25.22.
Always follow price action. Happy Trading!
Trade closed manually
This pattern actually held up pretty well overall through the day and provided some good key moments to look for swings. Not an exact match, but that is the purpose of charting these patterns. I'll post a comparison below in comments.
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