6/19/2012 German ZEW Economic Sentiment (2300 HI time / 0500 EDT)
Started @ 1.2608
1st Peak @ 1.2585 – 2301 (1 min)
Reversal to 1.2630 – 2321 (21 min)
Notes: The reading came in over 20 points worse than the forecast to heavily disappoint. This caused a 23 tick short spike on 1 bar that eclipsed the 100 and 50 SMAs and the PP Pivot. Crossing the 50 SMA and the PP Pivot proved too much to sustain as 9 ticks of the tail were left naked. With JOBB you would have filled short at about 1.2603 with 2 ticks of slippage. Look to exit with about 12 ticks at 1.2590, a short term low previously hit just below the PP Pivot / 50 SMA. It then reversed for 45 ticks back through the origin, crossing all 3 major SMAs and the R1 Pivot to nearly reach the HOD 20 min later.