Mar 272012

CL 05 12 (1 Min) 03.27.12

3/27/2012 Monthly CB Consumer Confidence (0400 HI time / 1000 EDT)
Forecast: 70.3
Actual: 70.2
Previous revision: +0.8 to 71.6

Notes: Report matched the forecast almost exactly with a small upward revision to the previous report. This caused a quick pop upward on the 04:00 candle that would have filled you long with JOBB at about 107.62. It reversed for almost 30 ticks before falling again. Then it retreated down to bob around 3-7 ticks in the red before it would have hot your stop loss on the 04:02 candle. Close out with a handful of ticks loss rather than wait for it to hit your stop loss. Do not look to trade a reverse on this either as the influence of the report wears off quickly and the volume of the spike was low so there is little to reverse.