I have no prediction of what the Fed will do today nor how the market will react to it. As a trader though I do need to estimate the up and down move so I can place my trades accordingly with low risk entries and well thought out targets. This allows me to pre-plan and exit with a profit once my target is reached.
What ever happens in the meeting, I do feel the market is charged with a lot of emotion so I think a big reaction is more probable then a wimpish one.
RUT 20 Day / 30 Minute Chart (with End of Day Targets)
Wednesday, October 31, 2007
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