Fed Chair Takes Center Stage
by Tony Rago
Today is all about the Fed Chair’s speech at the open. Expect elevated volatility, sharp swings, and plenty of headline-driven reactions as traders digest every word. Sessions like this can create tremendous opportunity, but only for those who stay patient enough to let the market reveal its hand. My plan is to let the initial reaction play out before getting involved. Chasing the first move on a Fed-driven day is rarely the highest-probability trade. I’d much rather trade the fallout once the dust settles and the market begins to establish direction.
Today’s expected ranges are significantly larger than normal, so risk management needs to be front and center. Don’t get caught up trying to capture every move or forcing trades in the middle of the noise. There will be plenty of opportunity throughout the session once cleaner setups develop. Stay disciplined, stick to your trading plan, and let your rules—not your emotions—guide your decisions. The traders who protect their capital on days like this are usually the ones still standing when the best opportunities finally appear.
👉 Full breakdown is inside today’s Pre-Market Playbook.
Check it out here and trade it smart.
Until next time,
Tony
