The September FOMC 8 Hour candle and its 7 different price levels is what determines the support levels.

I made an indepth post about ALL FOMC's and how they relate to support and resistances.

The 7 prices of this candle are as follows:

1. The high of the candle

The high of the candle is being used as a mean reversion and price is trading back and forth around the high.
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Friday's NFP day used this price as both support AND mean reversion.
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Thursday used both the top 1/3 and the high price to form support and resistance zones
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Wednesday used the high price all day as a mean reversion trading around this price with the last two hours of the day using it as support.
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Tuesday also used it as mean reversion trading around this price and using it as support and resistance
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Monday used it as support twice and also used the top 1/3 as major support.
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2. The top 1/3 of the candle

The top 1/3 of the candle is being used as major support

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3. The Open of the 8 hour candle

The open of a FOMC candle is of great significance. It offers the greatest support levels.

Notice on the day itself that the open of this 8 hour candle that the FOMC spike candle DID NOT break the opening price? It did eventually at the end of the day but swiftly recovered.

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The July FOMC's open price was used as major support and resistance here as well.
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4. The close of the 8 hour candle

The close of the candle was also used as support the following day for the rip higher.

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Note
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Note
Tuesday October 8th, price is mean reverting around the top 1/3 price of 42,225. Therefore today, I will try to be a buyer below the mean for the Long back above the mean. Somewhere down in the 100's

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Bought at the top 1/3 of the FOMC used as support. I used 2.2R as a target.

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Using these levels have yielded me some easy trades the past couple of weeks. I will continue to monitor FOMC levels, specifically on the 8 Hour chart.

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Note
Next target price will reach is 43,080

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