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Post FOMC Analysis
US Steel runaway gap lower.
Long term chart of Steel
Most banks also have downside targets yet to be reached with no exhaustion in sight
TSLA is offering a nice short-term trade against the 150 level
We should continue to see the 2-10s steepen
Keep an eye on the yen if you are trading the curve… this has been leading in many cases for execution purposes
I’ve been keeping things brief because the market is really quiet the scalpers paradise. Things are shifting very quickly under the surface on a day to day basis. Livermore might have been right about holding profitable positions or winners in the long term, but holding on to trades in this market has been an easy way to turn a good winner into a loser.
I’m mostly in cash trading futures momentum. The risk-reward does look appealing to the short side on the above mentioned names
Best of luck,