CL 04 12 (1 Min) 10.04.11

10/4/2011 FED Testimony (0400 HI time / 1000 EDT)
Forecast: n/a
Actual: n/a
INDECISIVE
Started @ 76.49
1st Peak @ 76.42 / Retrace to 76.64 – 0401 (1 min)
-7 ticks / 15 ticks

2nd Peak @ 76.10 – 0406 (6 min)
39 ticks

Reverse to 77.37 – 0418 (18 min)
127 ticks (3x top)

Notes: FED Chair Bernanke Testifies on the economic outlook and recent monetary policy actions before the Joint Economic Committee. Indecisive at first would have gotten you in short then retraced long and hit the stop loss. I would trade the bounce off the S2 line long at 0406, keep an eye on it crossing the 50/100/200 SMAs, then get out at the triple top.