Yes, definitely, hence my cautionary statement earlier. Didn't expect the ISM to do what it did. Just goes to show, never underestimate the power of a report to do the exact opposite of what you expect.
0933 CST If we hit 111 11 I think I'll call it a day. Being in the trade pre-report really messed up a solid sell between 0901 and 0903. My entry could have been 111 22 to 111 23 versus this current trade at 111 17.
111 07 is a possibility. I said 111 11 simply because it is half way between the pivot and 111 07 (1S).
0943 CST Price back up to my entry which is never a good sign. I'll look to get out with 1 or 2 ticks now unless something changes. Target of 111 11 is no longer in play for this trade. It may work for another trade later. 0946 CST Out at 111 17. Probably done for the day. What a ride. Correct on initial direction twice, but nothing to show for it.
Pre-market analysis Wednesday 02 May 2007 I'm going to cut back on the frequency of my posts for today. I want to get back into my groove. Here is what I see for today. First, I will be looking to sell at least one time and my focus will be a 0859 cycle sell. I will push this forward to between 0900 and 0915 CST for a sell signal with an eye towards taking the sell after the report for obvious reasons. Second, I have a cycle buy at 0809 CST. I may or may not take this trade. Third, I believe the time between 1020 to 1030 to have some significance. Two important numbers: 112 01 and 111 12 Finally, note, I do not blindly trade the above times. There is discretion involved.
0737 CST First target is 111 30 at a minimum. Given my experience recently, I'll probably take all off at 111 30 vs my real ideal target of 112 03. I still think a spike through 112 01 is possible. This would carry us up to 112 10 easily.