Jul 172012
 


6E 09 12 (1 Min) 07.17.12

7/17/2012 German ZEW Economic Sentiment (2300 HI time / 0500 EDT)
Forecast: -17.3
Actual: -19.6
SPIKE/REVERSE
Started @ 1.2308
1st Peak @ 1.2296 – 2302 (2 min)
12 ticks

Reversal to 1.2327 – 2312 (12 min)
31 ticks

Notes: The reading came in over 2 points worse than the forecast to mildly disappoint. This caused a 12 tick short spike on 2 bars that crossed the 100 and 200 SMAs. After crossing the 200 SMA, it reversed for 31 ticks in the next 10 min, extending the HOD by 4 ticks. With JOBB you would have filled short at about 1.2305 with no slippage. Look to exit with a few ticks below the 200 SMA. After the large reversal, it came back down to settle between the 100 and 200 SMA, then trended lower.