Thoughts for Wednesday 3/22/23

FOMC day

Hello traders, Tomorrow is FOMC day and its going to be volatile session as most FOMC and CPI events has been past few months. I suggest strong caution trading after rate decision and until after press conference. Use small size or simply stay away, as there are much better opportunities always available. Going back to today’s recap. We had excellent night session setup and RTH setups as evident in below tweets.

Futures Trader @FutureTrader400

Usual great night session here in FT land. Setup given during night hours produced 30 pts. #ES_F

Futures Trader @FutureTrader400

And usual no BS, great RTH session here in FT land. Setup given in RTH hours produced 10-20 points multiple times #ES_F If you like BS where they keep trimming infinite times even when they are only long small position on top of being short NQ and long ES then go sign up for… https://t.co/4JTpNwiaeN

Econ Tomorrow:

14:00 EST FOMC Rate decision 

14:30 EST FOMC Press

I suggest to not trade night session from 10 pm to 2 am chop. If action has to happen than it will happen before 10 pm or after 2 am EST. You can generally play short on top level provided for nightly range and long on lower level of nightly range after 2 am or 3 am. But get out of the way if it rips or drops thru levels and wait for new opportunity or flip. And of course never add to loser and better yet cut it and reset.

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