S&P emini Trading – Awaiting the Fed announcement
The markets were in a range prior to the Fed announcement so I put in a long order above the range at 136400 and a sell below the bottom of the range 135500. Anyway, when the Fed announced a cut of 0.5%, the market shot up.. my long entry was triggered and I manually closed it when it hit some resistance at 137000.. I got out at 137025.. however the market did go to 138000 and then fell.
I took 26 prices.. phew! I don’t know if this is a strategy which my trading mentor will be happy about but it served me well today!
I drew the range, entry and exit on the chart.
