Range-Bound price action

1 HR

As mentioned last week price was going to retrace or range ahead of FOMC. With a ranging market the bulls & bears had opportunities. Price has been in a 100 pip range since last week. Trading the range for either was an opportunity to take some profits from the market. I also mentioned in an earlier post to look for only "One" opportunity/day. Blue squares on Stoch's was an opportunity to take small loss but using the 1 Min fractals could keep losses small.

1 Min

Looking inside the 1 HR chart for the last 24 HR period basically and using fractals on the 1 min price gives an entry and a heads up when your analysis just might not be correct. Trust the 'Math' your indicators reveal to you unless you can do it faster/better!! Try this analysis with your favorite indicator(s). Time for the Fed statement.

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