Trade Plan for 12/18

FOMC Day for the Range Break?

Be sure you have read the Trading Doggy Style Starter Kit. I will be adding to this over time, likely first focusing on example executions. Trading Doggy Style Starter Kit. A recent update has been made with some additional content.

The weekly post for SPY 0.00%↑ and QQQ 0.00%↑ should be reviewed prior to this. Link to The Week Ahead

Please see the weekly plan as it has been edited for some slight adjustments to the weekly levels

Nothing has changed ahead of FOMC. We have been trading in a box. We gapped up yesterday and tested roughly the top of the box and gapped down today and tested the bottom. We simply take profit on longs, hedge longs, or look for shorts at the top of range and do the opposite at the bottom of the range. Balance/range trading is glorious for day traders, but somewhat less so for swing traders. However, of one has been attempting to swing from one of the edges and taken profit and hedged at the opposite end, it can still be profitable even if you are wrong in the end with the ultimate direction.