-082212.jpg "Click to enlarge")
8/22/2012 French Flash Manufacturing PMI (2100 HI time / 0300 EDT)
Forecast: 43.7
Actual: 46.2
Previous Revision: +0.3 to 45.0
SPIKE WITH 2ND PEAK
Started @ 1.2550 (2058)
1st Peak @ 1.2567 – 2100 (1 min)
17 ticks
Reversal to 1.2557 – 2106 (8 min)
10 ticks
2nd Peak @ 1.2576 – 2113 (15 min)
26 ticks
Reversal to 1.2567 – 2120 (22 min)
9 ticks
Notes: Report breaks 2 min early at 2058. The reading came in 2.5 points above the forecast to strongly impress. This caused a 17 tick long spike over 2 bars that did not cross any SMA or Pivot, but extended the HOD 11 ticks. With JOBB you would have filled long at about 1.2555 with 2 ticks of slippage. With the relatively large spike, I would exit at the top of the :59 bar with 10 ticks. No SMAs were crossed, but the HOD extension will limit the buying power. After the peak, it reversed for 10 ticks to the 13 SMA, then ascended for a 2nd peak of 9 more ticks about 12 min later. Then it reversed for 9 ticks back to the 13/20 SMAs to wait on the German report results.