9/19/2013 Weekly Natural Gas Storage Report (1030 EDT)
Forecast: 60B
Actual: 46B
INDECISIVE…SPIKE / REVERSE
Started @ 3.760 (1029)
Premature Spike @ 3.744 (1030)
16 ticks
1st Peak @ 3.820 – 1031 (1 min)
60 ticks
Reversal to 3.764 – 1034 (4 min)
56 ticks
Extended Reversal to 3.740 – 1100 (30 min)
80 ticks
Notes: Smaller gain on the reserve compared to the forecast saw a premature short spike of 16 ticks followed immediately by the true long move of 60 ticks that crossed the R2 Mid Pivot, then retreated leaving 27 ticks on the wick naked. With JOBB, you would have filled short at 3.748 with 2 ticks of slippage, then seen it rally to hit your stop loss for a 36 tick loss with 16 ticks of slippage. The gain was short lived as it started reversing at 11 sec into the :31 bar. The reversal achieved 56 ticks in 3 min to return to the origin. Then after a brief pullback attempt, it achieved another 24 ticks to the 200 SMA and R1 Mid Pivot on the extended reversal.