Risk/reward to the downside is larger than to the upside ahead of the FED decision. Here is a short setup with a risk/reward ratio of eight:
Short entry: 2070
Stop loss: 2088
Target:1 2033
Target 2: 1925
Quote:
FED
At 2 p.m. ET the Federal Reserve will announce its October 2015 interest rate decision. Markets are pricing in just a 4 percent chance of a rate move today. All of the attention will be on the accompanying statement, and whether the central bank decides to keep a December rate move open as an option.
Chinese stocks slump
China's Shanghai Composite Index dropped 1.7 percent overnight and the Hang Seng China Enterprises Index in Hong Kong dropped 1.5 percent, its largest fall in a month, as third-quarter earnings disappoint. Sixty-nine percent of Shanghai-listed companies that have reported third-quarter results so far have missed analyst estimates, putting pressure on stock valuations.
Source: www.bloomberg.com/ne...ts-are-talking-about
Short entry: 2070
Stop loss: 2088
Target:1 2033
Target 2: 1925
Quote:
FED
At 2 p.m. ET the Federal Reserve will announce its October 2015 interest rate decision. Markets are pricing in just a 4 percent chance of a rate move today. All of the attention will be on the accompanying statement, and whether the central bank decides to keep a December rate move open as an option.
Chinese stocks slump
China's Shanghai Composite Index dropped 1.7 percent overnight and the Hang Seng China Enterprises Index in Hong Kong dropped 1.5 percent, its largest fall in a month, as third-quarter earnings disappoint. Sixty-nine percent of Shanghai-listed companies that have reported third-quarter results so far have missed analyst estimates, putting pressure on stock valuations.
Source: www.bloomberg.com/ne...ts-are-talking-about