Jun 032011
 


CL 03 12 (1 Min) 06.03.11

6/3/2011 Monthly Unemployment Report (0230 HI time / 0830 EDT)
Non Farm Jobs Forecast: 161K
Non Farm Jobs Actual:54K
Previous Revision:-12K to 232K
Rate Forecast: 9.0%
Rate Actual:9.1%
SPIKE WITH 2ND PEAK and DOWNWARD FAN
Started @ 101.13
1st Peak @ 100.25 – 0231 (1 min)
88 ticks

Final Peak @ 99.67 – 0305 (35 min)
144 ticks

Reversal to 100.34 – 0335 (65 min)
67 ticks

Notes: Strongly negative report came in well short of the forecast causing a healthy spike and follow on FAN . Market kept falling until just after the open with the big red candle at 0304. I would close out at the end of the 0231 candle or wait and play the FAN for a few more ticks. You could also close out on the 0231 and then wait until the gap close / reversal and see how it plays out to jump into another short trade if the gap close “falls short”.