Apr 272013

ZC 05-13 (1 Min) 4_10_2013
Caption for 4/10:

4/10/2013 World Agriculture Supply and Demand Estimates (WASDE) – Corn (1200 EST)
Forecast: n/a
Actual: n/a
Started @ 645.50 (11:59:25)
1st Peak @ 666.75 – 1201 (1 min)
85 ticks

Reversal to 634.25 – 1213 (13 min)
130 ticks

Notes: Report Reaction caused a long spike of 85 ticks over 1 bar, that started above all 3 major SMAs (using the 200 SMA as support) and crossed the R1 – R3 Pivots. With JOBB, you would have filled short initially, as the noise before the breakout was too volatile for the settings. Then you would have been stopped with 1 tick of slippage for a 13 tick loss at about 647.50. Retooling the settings for a 12 tick bracket and 15 tick stop loss would have made the entry safe and able to handle the preliminary noise while allowing for an early spike. The spike peaked out about 15 sec into the :01 bar, and remained above 660 until about 25 sec remaining. Then it slowly backed off for the reversal reclaiming 60 ticks on the :01 bar, and another 29 ticks on the :02 and :03 bars. The total haul on the reversal was 130 ticks, culminating on the :13 bar almost to the S3 Pivot. After the reversal, it popped back up to trade between 641 and 645 for a few hours.