4/22/2016 Monthly Core CPI / CPI Report (0830 EDT)
Core CPI Forecast: 0.4%
Core CPI Actual: 0.7%
Previous Revision: n/a
CPI Forecast: 0.3%
CPI Actual: 0.6%
Previous Revision: +0.1 to 1.3%
TRAP TRADE – DULL FILL
Anchor Point @ 0.7854
—————-
Trap Trade:
)))1st peak @ 0.7887 – 0830:01 (1 min)
)))33 ticks
)))Reversal to 0.7858 – 0830:05 (1 min)
)))-29 ticks
)))Pullback to 0.7889 – 0830:24 (1 min)
)))31 ticks
—————-
Continued Pullback to 0.7899 – 0833 (3 min)
41 ticks
Reversal to 0.7887 – 0835 (5 min)
12 ticks
Final Peak @ 0.7923 – 1015 (105 min)
69 ticks
Reversal to 0.7894 – 1051 (141 min)
29 ticks
Trap Trade Bracket setup:
Long entry – 0.7836 (just below the LOD)
Short entry – 0.7875 (just above the PP Pivot)
Expected Fill: 0.7875 (short tier)
Best Initial Exit: 0.7859 – 16 ticks (likely exit 0.7875 to 0.7881 – breakeven to 6 tick loss)
Recommended Profit Target placement: 0.7714 (just below the R1 Pivot
Notes: Double booked with Rtl Sales with all news strongly bullish. This caused a large long spike but still had a quick retracement to the origin in 5 sec. If you were quick in adjusting the profit target to that the 100 SMA area, you could have captured up to 16 ticks, otherwise you would have seen it hover just above the PP Pivot to allow an exit with a few ticks loss. After that it slowly ratcheted higher for the next 2 hrs then backed off.