10/2/2012 Monthly Retail Sales (1530 HI time / 2130 EDT)
Previous Revision: -0.97B to -1.53B
Spike WITH 2nd peak
Started @ 1.0178
1st Peak @ 1.0163 – 1531 (1 min)
2nd Peak @ 1.0157 – 1536 (6 min)
Reversal to 1.0172 – 1615 (45 min)
Notes: Report fell well short of the forecast, with a large downward previous report revision. This caused a relatively big and fast short spike for 15 ticks that would have filled your short JOBB entry at about 1.0172 with 1 tick of slippage, allowing for about 8 ticks to be captured as the bar settled at the maximum low just below the S1 Pivot. It then claimed 6 more ticks on the 2nd peak 5 min later before reversing for 15 ticks in the next 40 min as volume dried up. The S1 pivot acting as support and the mild bearish sentiment before the market likely prevented a bigger drop, but it was still a great breakout for JOBB.