Yesterday was FOMC, so I didn’t trade. I’ve traded FOMC days many times before, and very often they turn into really crappy trading days with no real edge. So I decided to skip it.

When I opened the chart today, we had a bear leg down and then a sharp bull reversal back up to the EMA. That kind of price action made it look likely we could get a range day. There was also an ON gap above that could easily become the target.

After the bull leg, we got a pullback to the 50% level and an H1 Buy (implied H2 Buy) with a decent reversal bar. I took a chance on the evals, but I exited at +2 pts since the price action became very sideways. After all the stacked bars, we finally got a breakout and prices made a new high.

Prices then dropped back below the EMA, and we got a HL, but it closed below the EMA. We had already retested the highs, so I was hesitant to buy. I should have taken it, because prices picked up momentum and closed the gap just like I expected earlier. But there were no clean setups on the way up, so I didn’t force anything.

Prices then stalled around yesterday’s close — it was really stacked and choppy. And honestly, I wasn’t feeling great today; I was out having beers on my FOMC day off. I closed the chart at 12 PM CT.