-072312.jpg "Click to enlarge")
7/23/2012 CNY HSBC Flash Manufacturing PMI (1630 HI time / 2230 EDT)
Forecast: n/a
Actual: 49.5
Previous Revision: +0.1 to 48.2
Spike WITH 2nd peak
Started @ 1.0130
1st Peak @ 1.0152 – 1631 (1 min)
22 ticks
Reversal to 1.0143 – 1637 (7 min)
9 ticks
2nd Peak @ 1.0155 – 1638 (8 min)
25 ticks
Reversal to 1.0137 – 1656 (26 min)
18 ticks
Notes: Report impressed the traders, with a negligible positive previous report revision. This caused a long spike of 22 ticks that peaked on the :31 bar, crossing all 3 SMAs near the origin and the R1 Pivot halfway up the spike. With JOBB you would have filled long at 1.0135 with no slippage, and had an opportunity to close out at the top of the :31 bar for about 16 ticks. It reversed to close the gap to the 13 SMA for 9 ticks, then it achieved a 2nd Peak of 3 more ticks. The reversal crossed the R1 Pivot and came down to eclipse the 50 SMA for 18 ticks in 18 min