A reminder of what happened last month and which is very often the case on CPI/NFP/FED days, the first move is usual a fake-out:-
View attachment 297362
L 3626
8 point stop
You missed the point ... of my showing a one minute chart and ignoring all else. Oh well.That's a 1-minute chart, though. And doesn't show where we're at in the daily cycle.
Last month's CPI was released following a strong multi-day bear market rally. This month's CPI is coming off a strong drop near year lows.
Sell the rumor, buy the news.
Holding through the report is probably gambling, though, but I'd bet on a rally here if I had to.