Nov 152012

NG 12 12 (1 Min) 11.15.12

11/15/2012 Weekly Natural Gas Inventory Report (0530 HI time / 1030 EST)
Forecast: -13B
Actual: -18B
Started @ 3.794
1st Peak @ 3.690 – 0532 (2 min)
104 ticks

Reversal to 3.830 – 0632 (62 min)
140 ticks

Notes: Greater loss in supply than the forecast caused a wrong direction short spike of 104 ticks that crossed all 3 major SMAs, the PP and S1 Pivots in 2 bars. With JOBB, you would have filled short on the spike with about 25 ticks of slippage at about 3.760. Then I would target the S1 Pivot for the buy limit exit at 3.707 for a 50+ tick profit. After achieving the 1st peak, it retreated quickly up to the 13 SMA, then traded sideways before challenging the SMAs. It struggled with the 50 SMA much more than the 100/200 SMAs and PP Pivot all on top of each other, then eclipsed the R1 Pivot for 140 ticks total on the reversal.