-043012.jpg "Click to enlarge")
4/30/2012 CNY HSBC Flash Manufacturing PMI (1500 HI time / 2100 EDT)
Forecast: 53.6
Actual: 53.3
Previous Revision: n/a
SPike with 2nd peak
Started @ 1.0202
1st Peak @ 1.0194 – 1500 (0 min)
8 ticks
Reversal to 1.0203 – 1502 (2 min)
9 ticks
2nd Peak @ 1.0189 – 1522 (22 min)
13 ticks
Reversal to 1.0203 – 1550 (50 min)
14 ticks
Notes: Results released 1 min early, so spike moved at 14:59:05, but dull overall. Slightly negative report disappointed the traders. This caused a short spike of 8 ticks that peaked on the :00 bar, only crossing the PP Pivot. It was unable to sustain the drop due to the heavy support from the PP Pivot and retraced for 9 ticks on the :02 bar. The market had been trading sideways prior to the report. With JOBB, you would have filled short at 1.0198 with no slippage, then had an opportunity to get 3 ticks before it retraced. If you did not close out before the retracement, be patient and set your exit near the bottom of the 1st peak at about 1.0195 and wait for it to fill on the :09 bar. It achieved a 2nd peak of 13 ticks, nearing the S1 Pivot on the :22 bar. The reversal yielded 14 ticks in about 30 min after the 2nd peak (mostly in the last 5 min), climbing through all 3 major SMAs and eclipsing the PP Pivot.