11/6/2014 Weekly Natural Gas Storage Report (1030 EST)
Forecast: 86B
Actual: 91B
SPIKE / REVERSE
Started @ 4.156
1st Peak @ 4.111 – 1030:02 (1 min)
45 ticks
Reversal to 4.179 – 1034 (4 min)
78 ticks
Pullback to 4.137 – 1038 (8 min)
41 ticks
Reversal to 4.176 – 1045 (15 min)
39 ticks
Notes: We saw a slightly larger gain on the reserve compared to the forecast which caused a short spike of 45 ticks after minimal premature volatility. The spike fell to cross the S1 Pivot then hovered for 4 sec before it started to back off. It retreated back to near the origin as the :31 bar expired, then continued to reverse for another 32 ticks in the next 3 min as it crossed the S1 Mid Pivot and 50 SMA. With JOBB and a 10 tick bracket, your short order would have filled at about 4.131 with 15 ticks of slippage. A profit target of about 15-20 ticks would have filled immediately. Otherwise, look to exit near the S1 Pivot as it started to retreat to capture about 5-8 ticks. After the reversal it pulled back 41 ticks in 4 min. Then it reversed 39 ticks to the S1 Mid Pivot and 100 SMA in the next 7 min.