Oct 022012

6A 12 12 (1 Min) 10.02.12

10/2/2012 Monthly Retail Sales (1530 HI time / 2130 EDT)
Forecast: -0.69B
Actual: -2.03B
Previous Revision: -0.97B to -1.53B
Spike WITH 2nd peak
Started @ 1.0178
1st Peak @ 1.0163 – 1531 (1 min)
15 ticks

2nd Peak @ 1.0157 – 1536 (6 min)
21 ticks

Reversal to 1.0172 – 1615 (45 min)
15 ticks

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.