Multiple Time frame Setup before the Fed Announcement. There seems to be a lot of Day/Swing trading multiple time frame support/resistances setting up.
Here is what we are seeing. All charts are provided by eSignal.
Below is the weekly chart for Crude Oil. It has a iMTF Support at 48.15.
Below is the 60m chart for Dollar Futures. It has an iMTF resistance at 94.84.
Below is the 60m chart of Gold futures. It has a iMTF support at 1286.90.
These 3 main products have iMTF at the day/swing trading level. It would have been better if it also included the long term but it doesn’t.
EDUCATIONAL USE. Commodity Futures Trading Commission, Forex, Futures, Equity and Options Trading has large potential rewards, but also has large potential risk and may not be suitable for everyone. You must be aware of the risks and be willing to accept them in order to invest in these markets. Do not trade with money you can not afford to lose. This is neither a solicitation nor an offer to Buy/Sell. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this document. The past performance of any trading system or methodology is not necessarily indicative of future results. All information provided on the Blog is for educational purpose.