5/28/2015 Second Estimate GDP (0430 EDT)
Forecast: 0.4%
Actual: 0.3%
TRAP TRADE – OUTER TIER
Started @ 1.5362 (shift 4 ticks lower to 1.5358)
————
Trap Trade:
)))1st Peak @ 1.5336 – 0430:00 (1 min)
)))-22 ticks
)))Reversal to 1.5366 – 0430:21 (1 min)
)))30 ticks
————
Pullback to 1.5336 – 0433 (3 min)
30 ticks
Reversal to 1.5357 – 0437 (7 min)
21 ticks
Final Peak @ 1.5300 – 0603 (93 min)
58 ticks
Trap Trade Bracket setup:
Long entries – 1.5348 (just below the R1 Mid Pivot) / 1.5337 (just above the LOD)
Short entries – 1.5367 (just above the R1 Pivot) / 1.5378 (No SMA / Pivot near)
Notes: The reading came in 0.1% below the forecast. This caused a 22 tick short spike that started above the OOD and fell to reach the LOD immediately. This would have filled both long entries making the average long position 1.5342.5. It reversed quickly to the 100 /200 SMAs in 21 sec then backed off to hover at 1.5360 to allow a total of 35 ticks to be captured. Then it fell for a double bottom in 2 min before reversing 21 ticks in 4 min. After that it fell for a final peak of 36 more ticks to the S1 Pivot in 86 min.