Today we had a positive FOMC report yet the price action had nothing to do with the report. It was more of an excuse to lure the herd into long positions with an uptrend until the FOMC minutes were released. When the report came out the market took off and broke through new one year highs only to get slammed down 20 points in 90 minutes to the 7 day support level.
Its days like this that the FRO proves it's ability to track deliberate market manipulation. It was about drawing traders in long followed by heavy selling to trigger panic selling. The FRO is a "forensic trading" tool. It identifies and protects you from these manipulators.
You can see clear, cross confirmed sell signals at the top pivot where the "crime" was committed.
You really want to know how amazing the FRO is? Look at the "LML" notations along the dips on the FRO. That was your warning that price would go lower than the price level noted. And in spite of that rocket launch on FOMC release, price did go much lower than that morning low right into the close.
AMAZING!
P.s. I had to mark the spot where I took a wrong way trade. I looked at the more sensitive charts and lost my way momentarily with a one-tick lucky profit. My bad.
Warning!
You can lose money -- alot of money -- trading.
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