Feb 082014
 

6J 03-14 (1 Min)  1_23_2014

1/23/2014 Weekly Unemployment Claims (0830 EST)
Forecast: 331K
Actual: 326K
TRAP TRADE (SPIKE WITH 2ND PEAK)
Anchor Point @ 0.0009612 (last price and recent avg)
————
Trap Trade:
)))1st Peak @ 0.009624 – 0830:19 (1 min)
)))12 ticks

)))Reversal to 0.009614 – 0830:47 (1 min)
)))-10 ticks

)))2nd Peak @ 0.009625 – 0831:21 (2 min)
)))13 ticks
————
Reversal to 0.009610 – 0840 (10 min)
15 ticks

Trap Trade Bracket setup:
Long entries – 0.009602 (just below the R2 Mid Pivot) / 0.009593 (just below the R1 Pivot)
Short entries – 0.009622 (just below the R3 Mid Pivot ) / 0.009632 (no SMA/Pivot within 5 ticks)

Notes: Report came in mildly better than the forecast by 5K jobs causing a long impulse on the 6J for 12 ticks initially as it hit the R3 Mid Pivot. That would have easily filled the inner short entry with 2 ticks to spare. Then it would have retreated to give you up to 8 ticks later in the bar for an ideal exit. If you left the order open, it would have tested the R3 Mid Pivot one more time, then engaged in a slower reversal of 15 ticks in 8 min back to the R2 Pivot. This would have offered up to 10-11 ticks to be captured on the 100 Pivot. After that it rallied long and sustained the bullish move.