Sep 072012

6C 09 12 (1 Min) 09.07.12

9/7/2012 Monthly Unemployment Report (0230 HI time / 0830 EDT)
Employment Change Forecast: 9.9K
Employment Change Actual: 34.3K
Previous Revision: n/a
Rate Forecast: 7.3%
Rate Actual: 7.3%
Started @ 1.0186
1st Peak @ 1.0173 – 0231 (1 min)
13 ticks

Reversal to 1.0199 – 0232 (2 min)
26 ticks

2nd Reversal Peak @ 1.0222 – 0243 (13 min)
49 ticks

Notes: Strongly positive report showing a healthy rise in the number of jobs in spite of no change in the unemployment rate. This broke at the same time as the US Non Farm Employment report which was strongly negative and caused the dollar to drop. This caused the 6C to drop initially, but it quickly rebounded and followed the fall of the dollar and the strong report. I advised against trading this report due to the US NFP parallel and superior influence. This initial action was hampered by the 3 major SMAs near the origin, then the R1 Pivot was crossed on the reversal 2nd peak