-091912.jpg "Click to enlarge")
9/19/2012 French Flash Manufacturing PMI (2100 HI time / 0300 EDT)
Forecast: 46.5
Actual: 42.6
Previous Revision: -0.2 to 46.0
SPIKE WITH 2ND PEAK
Started @ 1.2992 (2058)
1st Peak @ 1.2975 – 2059 (1 min)
17 ticks
2nd Peak @ 1.2952 – 2107 (9 min)
40 ticks
Reversal to 1.2969 – 2124 (26 min)
17 ticks
Notes: Report breaks 2 min early at 2058. The reading came in nearly 3 points below the forecast to strongly disappoint. This caused a 17 tick short spike over 1 bar that crossed no SMAs and bottomed 1 tick above the S2 Pivot. With JOBB you would have filled short at about 1.2987 with 2 ticks of slippage. Look to exit at the S2 Pivot, which the :02 bar crashed through for 13 ticks, or if you noticed the severity of the report, wait out the 2nd peak for 30 or more ticks. After the 1st peak, it retreated 6 ticks, but unable to reach the 13 SMA, it quickly dove again for a 2nd peak of 40 total ticks. Then it reversed for 17 ticks in 17 min, crossing the 13 and 20 SMAs. After that it fell to the 20 SMA to wait on the German report results.