3/24/2016 Monthly Durable Goods Orders (0830 EDT)
Core Forecast: -0.2%
Core Actual: -1.0%
Previous revision: -0.1% to 1.7%
Regular Forecast: -3.0%
Regular Actual: -2.8%
Previous Revision: -0.2% to 4.7%
TRAP TRADE – DULL NO FILL
Anchor Point @ 0.008899
————
Trap Trade:
)))1st Peak @ 0.008908 – 0830:00 (1 min)
)))9 ticks
)))Reversal to 0.008897 – 0833:58 (4 min)
)))-11 ticks
————
2nd Peak @0.008917 – 0847 (17 min)
18 ticks
Reversal to 0.008907 – 0859 (6 min)
10 ticks
Trap Trade Bracket setup:10-12/20-24
Long entries – 0.008888 (on the S1 Pivot) / 0.008877 (No SMA/Pivot near)
Short entries – 0.008910 (No SMA/Pivot near) / 0.008921 (just above the R1 Mid Pivot/ OOD)
Expected Fill: n/a – cancel
Best Initial Exit: n/a.
Recommended Profit Target placement: n/a
Notes: Conflicting report caused a quick spike that reversed. Unfortunately the spike was a few ticks too small to breach the inner short tier. Cancel the order on the miss. After a reversal to the S1 Mid Pivot, it rebounded for a 2nd peak to the OOD.