-081412.jpg "Click to enlarge")
8/14/2012 German ZEW Economic Sentiment (2300 HI time / 0500 EDT)
Forecast: -19.4
Actual: -25.5
SPIKE WITH 2ND PEAK
Started @ 1.2374
1st Peak @ 1.2362 – 2303 (3 min)
12 ticks
Reversal to 1.2378 – 2321 (21 min)
16 ticks
2nd Peak @ 1.2354 – 0004 (64 min)
20 ticks
Reversal to 1.2366 – 0018 (78 min)
12 ticks
Notes: The reading came in over 6 points worse than the forecast to mildly disappoint. This caused a frenetic 12 tick short spike on 3 bars that crossed that crossed the 200 SMA at the origin and the R1 Pivot lower. The :01 bar could not sustain the drop, but the :03 bar was able to retest and fall for 2 more ticks. With JOBB you would have filled short at about 1.2371 with no slippage. Look to exit with a few ticks at 1.2364. After the spike, it reversed for 16 ticks, eclipsing the 100 SMA. Then it fell for a 2nd peak as it stepped down to 1.2354 about 1 hr after the report. After that it reversed for 12 ticks back to the R1 Pivot. It continued chopping slightly lower in the next 2 hrs, but not likely due to the influence of the report.