Today is the Day - FOMC - Be Very Careful Trading!

Today is the day. The US government's FOMC meeting will decide on interest rates and comment on the state of inflation.

What to expect? Markets will be volatile today. If the Fed announces a 75bp (or lower) hike, expect markets to move to the upside. If its higher than 75bp, they will likely dump, though potentially dump into a bart pattern and rally later.

Also look for comments from Chair J Powell, who I suspect will make some very pointed comments on the state of inflation, whether he thinks its peaking, and will reiterate how committed the Fed is in bringing inflation down. Semantics matter here and industry listens careful to every word he says.

I don't recommend new traders take up any trades today. If you do trade, use stoplosses and limit your timeframe because the probability is that today will see volatile price action swinging both ways.

If you can, I also recommend catching a live stream of it somewhere.

Fed Chair JPOW