9/8/2014 NAB Business Confidence (2130 EDT)
Forecast: n/a
Actual: 8
Previous Revision: -1 to 10
SPIKE / REVERSE
Started @ 0.9285
1st Peak @ 0.9269 – 2130:42 (1 min)
16 ticks
Reversal to 0.9281 – 2141 (11 min)
12 ticks
Pullback to 0.9274 – 2147 (17 min)
7 ticks
Notes: Report came in 3 pts lower than last month with a 1 pt downward previous revision. This caused a 16 tick short spike that started on the HOD and fell to cross all 3 major SMAs, the S1 Mid Pivot, and OOD while extending the LOD 2 ticks. The reaction fell 10 ticks quickly, but secured the remaining 6 ticks slowly, then hovered near the LOD. With JOBB, your short entry would have filled at 0.9279 with 2 ticks of slippage, then given you an opportunity to exit with 8+ ticks near the LOD late in the :31 bar. Then it reversed 12 ticks in the next 10 min to the S1 Mid Pivot. After that it fell 7 ticks in the next 6 min to the OOD and continued to oscillate around the SMAs for another 30 min before falling further on other news.