4/15/2013 RBA Monetary Policy Meeting Minutes (2130 EDT)
Forecast: n/a
Actual: n/a
SPIKE/REVERSE
Started @ 1.0289
1st Peak @ 1.0298 – 2131 (1 min)
9 ticks
Reversal to 1.0277 – 2134 (4 min)
21 ticks
Extended Reversal to 1.0267 – 2155 (25 min)
31 ticks
Notes: Minutes caused a long spike of only 9 ticks that crossed the 13 and 20 SMAs to match the high set just a few min earlier. It was unsustainable and left 7 ticks on the wick naked, then fell on the following 3 bars for a total of 21 ticks. With JOBB, you would have filled long with no slippage at about 1.0292, then had an opportunity after it popped up and fell to close out near breakeven in between 2 ticks loss or gain in the latter part of the bar. As the Cash rate 2 weeks ago was indecisive, spiking long first then reversing short, this report matched the form overall. The reversal was able to capture 21 ticks in 4 min to eclipse the S4 Pivot, then fell another 10 ticks 20 min later.