5/3/2011 Quarterly RBA Monetary Policy Statement (1530 HI time / 2130 EDT)
SPIKE / RETRACE
Started @ 1.0214
1st Peak @ 1.0208 – 1531 (1 min)
Reverse to 1.0234 – 1547 (17 min)
Pullback to 1.0226 – 1559 (29 min)
Notes: Small moving report compared to the historical reactions over the pas t year. Dull spike of 6 ticks that likely would have filled your JOBB. If you see the double bottom at 1.0208, then a change in direction, I would close out with a 3-5 tick loss just in case it might come down again. When it strongly penetrated the 200 SMA upward with no effects of resistance, it is obviously going long for a while with more magnitude, so a follow on long entry would be safe with an exit at the double top of 1.0232.