1/20/2016 Core CPI (0830 EST)
Core Forecast: 0.2%
Core Actual: 0.1%
Previous revision: n/a
Regular Forecast: 0.0%
Regular Actual: -0.1%
Previous Revision: n/a
TRAP TRADE – INNER TIER
Anchor Point @ 160’16 – shift 2 ticks lower to 160’14
————
Trap Trade:
)))1st Peak @ 160’23 – 0830:30 (1 min)
)))9 ticks
)))Reversal to 160’10 – 0831:39 (2 min)
)))-13 ticks
————
Pullback to 160’19 – 0838 (8 min)
9 ticks
Reversal to 160’03 – 0855 (25 min)
16 ticks
Pullback to 160’18 – 0919 (49 min)
15 ticks
Trap Trade Bracket setup:
Long entry – 160’07 (just above the R2 Mid Pivot)
Short entry – 160’21 or 160’22 (on or just below the 100 SMA)
Expected Fill: 160’21 or 160’22 – inner short tier
Best Initial Exit: 160’11 – 10 or 11 ticks
Recommended Profit Target placement: 160’14 (just below the R2 Pivot)
Notes: Nice fill with 1-2 ticks to spare and reversal for up to 11 ticks. After that it continued to fallfor 25 min, then pulled back.