4/2/2012 Monthly ISM Manufacturing PMI (0400 HI time / 1000 EDT)
Previous revision: n/a
Started @ 102.72
1st Peak @ 102.81 – 0401 (1 min)
Reversal to 102.55 – 0402 (2 min)
Notes: Report matched the forecast generating a dull reaction. JOBB would have gotten you in long at about 102.76. You would have seen a spike up to 102.81, then hovering between 1and 4 ticks of profit for 20 sec. This is an obvious situation to close out. This report normally delivers a large spike in a quick manner, so the absence from the norm and the hovering are tripwires to get out with a small profit. Had you waited it out, it would hit your stop loss about halfway through the :01 candle.