8/2/2011 Monthly Trade Balance (1530 HI time / 2130 EDT)
Previous Revision:+0.37B to 2.70B
Spike WITH 2ND PEAK
Started @ 1.0461
1st Peak @ 1.0408 – 1531 (1 min)
2nd Peak @ 1.0399 – 1542 (12 min)
Reversal to 1.0417 – 1550 (20 min)
Notes: Report mildly fell short of forecast, but previous report revised strongly upward. Report broke at the same time as Monthly Retail Sales which largely disappointed causing most of the short momentum. I would trade this report as the Retail Sales report causes a large reaction. The 1531 candle ratcheted down and then hovered at 1.0408 for 12 sec. That is the cue to get out as it pulled back giving up 19 ticks. It did return for a 2nd peak for 9 more ticks, before reversing 18 ticks.