Aug 152011
 


6A 03 12 (1 Min) 08.15.11

8/15/2011 RBA Monetary Policy Meeting Minutes (1530 HI time / 2130 EDT)
Forecast: n/a
Actual: n/a
SPIKE / RETRACE
Started @ 1.0218
1st Peak @ 1.0194 – 1536 (6 min)
24 ticks

Reverse to 1.0224 – 1541 (11 min)
30 ticks

Notes: Normal 24 tick spike even though it took 6 candles to get there due to fighting through the 100 and 50 SMAs and the PP line. You can look for 20-25 ticks on the spike. The reversal outgained the spike, peaking just above the 200 SMA. Overall typical reaction.