Apr 292013

6A 03-13 (1 Min)  1_22_2013 6A 03-13 (2 Range)  1_22_2013


1/22/2013 Quarterly CPI (1930 EST)
Forecast:  0.4%
Actual: 0.2%
Previous Revision: n/a
Started @ 1.0516
1st Peak@ 1.0491 – 1931 (1 min)
25 ticks

Reversal to 1.0517 – 1945 (15 min)
26 ticks

Notes:   This report was mildly negative, resulting in a quick short spike of 25 ticks, followed by a retracement of 17 ticks as it was unable to sustain the drop.   Extending the LOD, and crossing the S1 / S2 Pivots was too much to hold, so it bounced up strongly.  This is a report we may want to watch to use a profit trigger.  With JOBB, you would have filled short at about 1.0508 with 1 tick of slippage. You would have seen the dramatic drop and rebound.  I would look to get a few ticks, and move the stop loss down to 1.0511, just above the S1 Pivot (3 ticks risk).  You would have been able to close between 1.0502 and 1.0506 for 2-6 ticks.  The reversal was able to reclaim 26 ticks from the bottom of the :31 bar, and 16 ticks from the :41 bar in 30 min, crossing the 50 and 100 SMAs.  After that it fell again and traded below the S2 for several hours