-091812.jpg "Click to enlarge")
9/18/2012 German ZEW Economic Sentiment (2300 HI time / 0500 EDT)
Forecast: -19.2
Actual: -18.2
SPIKE WITH 2ND PEAK
Started @ 1.3092
1st Peak @ 1.3080 – 2304 (4 min)
12 ticks
Reversal to 1.3095 – 2322 (22 min)
15 ticks
2nd Peak @ 1.3057 – 0022 (82 min)
35 ticks
Reversal to 1.3081 – 0048 (108 min)
24 ticks
Notes: The reading came in 1 point better than the forecast to mildly impress, but the overall reading was still disappointing. This caused a 12 tick short spike on 4 bars that crossed that crossed the 100 SMA at the origin and the S1 Pivot lower. The :01 bar could not sustain the drop, but the :04 bar was able to retest and fall for 4 more ticks. With JOBB you would have filled short at about 1.3089 with no slippage. Look to exit with a few ticks at 1.3082, just below the S1 Pivot. After the spike, it reversed for 15 ticks, eclipsing the 50 SMA. Then it fell for a 2nd peak in the next hour as it stepped down to 1.3057 and extended the LOD by 19 ticks. After that it reversed for 24 ticks back to just below the 200 SMA.