Aug 272012

6E 09 12 (1 Min) 08.27.12

8/27/2012 German IFO Business Climate (2200 HI time / 0400 EDT)
Forecast: 102.7
Actual: 102.3
Previous Revision: -0.1 to 103.2
Started @ 1.2518
1st Peak @ 1.2530 – 2205 (5 min)
12 ticks

2nd Peak @ 1.2537 – 2216 (16 min)
19 ticks

Reversal to 1.2515 – 0001 (121 min)
22 ticks

Notes: The reading came in only 0.4 points under the forecast to disappoint. This caused a delayed 12 tick long spike, peaking on the :05 bar that crossed the PP Pivot only. Due to the PP Pivot being close and the small report offset, the delay is not surprising. With JOBB, you could cancel the order as if it is a dull reaction, or wait for a spike as the report is occasionally delayed about 2 min. If you had waited, you would have filled long at about 1.2523 with no slippage, then had an opportunity to exit with 4-6 ticks where it extended the HOD by 4 ticks. It then pulled back a few ticks before gaining 7 more ticks on a 2nd Peak 11 min later. The reversal was slow and took nearly 2 hrs to appear as it tested each of the SMAs and the PP Pivot again, eventually bottoming out 4 ticks below the 200 SMA.