4/14/2016 30-yr Bond Auction (1301 EDT)
Previous: 2.72/2.3
Actual: 2.60/2.4
SPIKE WITH 2ND PEAK
Started @ 165’02 (1301:30)
1st Peak @ 165’13 – 1301:47 (1 min)
11 ticks
Reversal to 165’08 – 1301:54 (1 min)
5 ticks
2nd Peak @ 165’18 – 1314 (13 min)
16 ticks
Reversal to 165’09 – 1319 (18 min)
9 ticks
Expected Fill: 165’06 (long)
Slippage: 1 tick
Best Initial Exit: 165’12 – 6 ticks
Recommended Profit Target placement: 165’12 (just above the S1 Mid Pivot)
Notes: Nice long spike, that peaked immediately on the S1 Mid Pivot. With an appropriate profit target, 6 ticks would have been captured. After that it achieved a 2nd peak for 5 more ticks at the PP Pivot, then reversed 9 ticks.