3 Ways To Trade The FOMC Bounce On Wednesday

By Joseph James of Sideways Markets

Head-Trader at SchoolOfTrade.com • May 2, 2023 at 10:59 PM EDT

Today’s big move down gives us all the info we need to find winning trades tomorrow.

Woah, what a move!!

Today’s big move down gives us all the info we need to find winning trades tomorrow.

The key is using these (3) important clues to trade the FOMC Bounce!

E-mini and Nasdaq are bearish with large moves lower, telling me this FOMC Bounce is easily my favorite trade before the announcement!

Crude Oil is bearish into major support – I’d love to grab a crown reversal off these lows, then trap in buyers up around resistance overhead!

E-Mini S&P (ES):

(Click on image to enlarge)

Emini is bearish after a large move down today, telling us that sellers will be looking for a way to retest today’s major low.

The overall trend is still quite bullish, so expect to see buyers looking for bear traps and reversals off the lows.

E-Mini Nasdaq (NQ):

(Click on image to enlarge)

Nasdaq is bearish with a big move down today, telling us to expect sellers to look for a retest of today’s low.

Keep in mind, we’re still overall bullish, and it’s easy to see why buyers might see this as a fantastic buying opportunity ahead of FOMC tomorrow afternoon.

Crude Oil Futures (CL):

(Click on image to enlarge)

Crude Oil is bearish with a strong move lower, sitting on major support tells us buyers will be looking for reversals off the lows while sellers wait for a breakout-pullback to short back down again!

Video Length: 00:35:17

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