The support forum is built with (1) General and FAQ forums for common trading queries received from aspiring and experienced traders, and (2) forums for course video topics. How to Trade Price Action and How to Trade Forex Price Action videos are consolidated into common forums.
Brooks Trading Course social media communities
Brooks Trading Course Learning Resources >>>
What made today's bar 49 so fierce?
I can see the failed BO above the spike and wedge channel (bar 8-37), and the relatively strong bear leg that followed (38-41), announcing a possible MTR. But we were in a strong bull trend, 20+ bars above the MA, pretty tight bull channel. Also bull leg 45-48 looked strong enough for the market to at least stay in the upper TR. Why were the bars suddenly so urgent at 49?
New York Community Bancorp needed 1 Billion dollars.....was halted and reopened a few times.
Powell speaking is why it happened.
I have a policy of not trading the ES on days of FOMC press conference, FOMC minutes release, or when the Fed Chair speaks. I have found these days to be somewhat harmful to my account balance.
Powell spoke 3,5 hour earlier. That was probably why bar 7 got so big. But around bar 49 I cannot find any important events.
On these days I've found that the market can move abruptly at random points in time using the Fed activity that day as an excuse.
Hm, interesting. I'll keep an eye on that. Do you trade something else on those days, if I may ask?
Hm, interesting. I'll keep an eye on that. Do you trade something else on those days, if I may ask?
I'm currently in the process of researching and selecting a commodities market to trade on those days.
