May 072013
2/22/2013 German IFO Business Climate (0400 EST)
Forecast: 104.9
Actual: 107.4
Previous Revision: +0.1 to 104.3
SPIKE/REVERSE
Started @ 1.3220
1st Peak @ 1.3247 – 0401 (1 min)
27 ticks
Reversal to 1.3213 – 0434 (34 min)
34 ticks
Notes: The reading came in 2.5 points above the forecast to impress. This caused a 27 tick long spike on 1 bar that crossed only the 50 SMA. With JOBB you would have filled long at about 1.3224 and had an opportunity to close out with about 15-20 ticks as the :01 bar expired. After the 1st peak, it reversed for 34 ticks in 34 min, fighting through all 3 major SMAs and the R1 Pivot. Then it traded sideways until the news at 0500 broke.