Sep 212011
 


CL 04 12 (1 Min) 09.21.11

9/21/2011 FOMC Statement / FED Funds Rate (0815 HI time / 1415 EDT)
Forecast: n/a
Actual: n/a
SPIKE WITH 2ND PEAK
Started @ 87.46 (0823)
1st Peak @ 86.41 – 0827 (4 min) (after spike up 34 ticks on 0824 Candle)
105 ticks

2nd Peak @ 86.01 – 0837 (14 min)
145 ticks

Reversal to 86.99 – 0907 (44 min)
98 ticks (2x top)

Notes: *Report broke 8 min late at 0823. Report mildly disappointed in establishing “Operation Twist” in an attempt to lower long term interest rates to initiate more borrowing, but most doubt it will have any effect. Again, DO NOT USE JOBB due to uncertain release time. Notice the 0817 and 0818 candles where traders jump the gun anticipating. Then the 0824 candle spiked up 34 ticks before falling 23, a 57 tick swing. I would watch the 0825 candle seeing it decisively red, then jump in short on the 0826 in the 87.12 area with a 15 tick stop loss. I would get out at 0838 or 0843 after seeing the tails on a 2nd peak.