-062012.jpg "Click to enlarge")
6/20/2012 German Flash Manufacturing PMI (2130 HI time / 0330 EDT)
Forecast: 45.3
Actual: 44.7
Previous Revision: +0.2 to 45.2
SPIKE WITH 2ND PEAK
Started @ 1.2683 (2128)
1st Peak @ 1.2671 – 2202 (4 min)
12 ticks
2nd Peak @ 1.2651 – 2147 (19 min)
32 ticks
Reversal to 1.2673 – 2205 (37 min)
22 ticks
Notes: Report breaks 2 min early at 2128. The reading came in 0.6 points under the forecast to mildly disappoint. This caused a 12 tick drop over 4 bars that did not cross any SMAs or Pivots, but struggled with a previous low and level of support at 1.2673. With JOBB you would have filled at about 1.2679 with 1 tick of slippage. Either look to exit at the level of previous low at 1.2673 with 6 ticks, or be patient and see if it crosses the LOD then ride the selloff until the 13 crosses the 20 SMA for 20 or more ticks. After a small 9 tick reversal to the 13 SMA, it fell again for the next 14 min to a 2nd peak of 32 total ticks, extending the LOD by 18 ticks. Then it reversed for 22 ticks in 18 min, eclipsing the 50 SMA by about 4 ticks. After that it continued a choppy ascent back up to the 200 SMA where it struggled, but eventually broke through long.