CPI trade journal — a textbook event trade. My pre-release analysis: CPI was expected at 3.2% but the "whisper" was 3.3–3.4% (services inflation had been elevated in the regional Fed surveys). I was positioned for a hot print. Setup: Entered short EUR/USD at 1.0842 the morning of CPI with a wide 60-pip stop at 1.0905. Target: 1.0760. 8:30 AM EST: CPI 3.5% (major beat). EUR/USD dropped from 1.0842 to 1.0778 in 90 seconds. I was 64 pips in profit instantly. Moved stop to breakeven. Held through the pullback to 1.0810. Price continued to 1.0752 by 11 AM EST. Closed at 1.0755 — 87 pips, roughly +1.45R. Lesson: Having a directional thesis before the release and sizing for a wider stop was the key. The trade was planned the day before — not reactive. Preparation is everything on CPI day. Do you build a pre-release thesis for CPI, or do you decide after seeing the number?