OP: All Eyes on the Fed
Tuesday’s Session was Cycle Day 1 (CD1): Price continued in rally-mode until excess momentum fulfilled Cycle Penetration objectives, then reversing direction, selling down to yesterday’s late day breakout (3943), and finally settling neutral mid-range. Range was 28 handles on 1.332M contracts exchanged. … This leads us into Cycle Day 2 (CD2): Having closed mid-range, typical price action expected would be for continued consolidation of recent rally. As such, there are two estimated scenarios to consider for today’s trading. 1.) Price sustains a bid above 3960, initially targets 39...
Source: mrtopstep.com