6E 12 12 (1 Min) 09.24.12

9/24/2012 German IFO Business Climate (2200 HI time / 0400 EDT)
Forecast: 102.6
Actual: 101.4
Previous Revision: n/a
SPIKE WITH 2ND PEAK
Started @ 1.2966
1st Peak @ 1.2933 – 2203 (3 min)
33 ticks

Reversal to 1.2949 – 2208 (8 min)
16 ticks

2nd Peak @ 1.2906 – 2243 (43 min)
60 ticks

Reversal to 1.2929 – 2350 (110 min)
23 ticks

Notes: The reading came in 1.2 points under the forecast to disappoint. This caused a large 33 tick short spike on 3 bars (mostly on the :01 bar) that crossed the 100 and 200 SMAs near the origin, and the S2 Pivot about halfway down, then bottomed as it extended the LOD by 5 ticks. With JOBB you would have filled short at about 1.2958 with 3 ticks of slippage. Look to exit with about 20 ticks near the LOD. After the initial peak, it reclaimed 16 ticks back to the 13 SMA 5 min later, then fell again for a 2nd peak of 60 total ticks (nearly double the 1st peak) 43 min after the report. It then settled down and achieved a 23 tick slow reversal in the hour following the 2nd peak.