“The key is consistency and discipline. Almost anybody can make up a list of rules that are 80% as good as what we taught. What they can’t do is give (people) the confidence to stick to those rules even when things are going bad.” – Richard Dennis, on Turtle Trading

As discussed in our latest weekly outlook video, this week is all about the Fed. Furthermore, don’t forget that we’ll have to deal with month-end and quarter-end flows so don’t be surprised if trading gets a bit funky into the end of the week.

We are at key levels across the board so our expectation would be for choppy fake-out action as liquidity is sucked out of the system into the FOMC / Press conference and then for the market to find direction in the following 24/48 hours.

Our focus remains on the current DXY move. The key tell on this latest move will be if we get the usual firmness into the expected rate-hike that fades post release. We’ll be watching closely with an eye on possible opportunities opening up in the metals complex too.

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