CL 03 12 (1 Min) 08.05.11

8/5/2011 Monthly Unemployment Report (0230 HI time / 0830 EDT)
Non Farm Jobs Forecast: 89K
Non Farm Jobs Actual:117K
Previous Revision: +28K to 46K
Rate Forecast: 9.2%
Rate Actual:9.1%
SPIKE / REVERSAL
Started @ 86.42
Peak @ 89.19 – 0232 (2 min)
277 ticks

Reversal to 87.45 – 0235 (5 min) / 86.97 – 0251 (21 min)
174 ticks / 222 ticks

Notes: Moderately positive report exceeded the forecast causing a gigantic spike and follow on reversal. With the 277 tick explosion, the market is very overbought and the reaction cannot be sustained. Close out at the end of the 0231, or early in the 0232 when it starts to reverse. This would be a great setup to trade the reversal too, yielding 222 ticks (80% reversal) in 20 min.

My best trade ever, where I made $7340 with 4 contracts (I caught about 185 ticks)