-091912.jpg "Click to enlarge")
9/19/2012 German Flash Manufacturing PMI (2130 HI time / 0330 EDT)
Forecast: 45.4
Actual: 47.3
Previous Revision: -0.4 to 44.7
SPIKE WITH 2ND PEAK
Started @ 1.2962 (2128)
1st Peak @ 1.2986 – 2131 (3 min)
24 ticks
2nd Peak @ 1.2988 – 2141 (13 min)
26 ticks
Reversal to 1.2964 – 2201 (33 min)
24 ticks
Notes: Report breaks 2 min early at 2128. The reading came in nearly 2 points above the forecast to impress. This caused a 24 tick long spike over 3 bars that crossed the 50 SMA and S2 Pivot, then eclipsed the 100 SMA to hit its peak. With JOBB you would have filled long at about 1.2965 with 2 ticks of slippage. Look to exit somewhere between the 50 and 100 SMAs with about 12-20 ticks. After the 1st peak, it did not stray far from the 100 SMA and managed 2 more ticks for a small 2nd peak. Then it reversed for 24 ticks in 18 min, nearly back to the origin as it crossed the 50 SMA and S2 Pivot. After that it rebounded long and traded sideways above the 50 SMA and PP Pivot.