-072612.jpg "Click to enlarge")
7/26/2012 Weekly Natural Gas Inventory Report (0430 HI time / 1030 EDT)
Forecast: 26B
Actual: 26B
INDECISIVE
Started @ 3.072
1st Peak @ 3.041 / Retrace to 3.100 – 0431 (1 min)
-31 ticks / 28 ticks
2nd Peak @ 3.111 – 0439 (9 min)
39 ticks
Reversal to 3.000 – 0513 (43 min)
111 ticks
Notes: Exactly matching report caused a double wicker spanning nearly 60 ticks on the :31 bar. It then went for a 2nd peak 11 ticks higher than the wick of the :31 bar, fighting through all 3 SMAs and the PP Pivot in a tight fist between the 3.076 and 3.081 area. Then we saw a large reversal fight through the same barriers and head down to eclipse the S1 Pivot and bottom out at the psychological level of 3.000 about 30 min after the 2nd peak. With a double wicker, a good play is too look to trap trade a breakout from the hi/lo of the :31 bar. In this case place a short entry at about 3.105 with a stop 15 ticks above, then flatten the order when it goes lower than 3.040 (the bottom of the :31 bar).