6E 12 12 (1 Min) 10.16.12

10/16/2012 German ZEW Economic Sentiment (2300 HI time / 0500 EDT)
Forecast: -14.6
Actual: -11.5
SPIKE/REVERSE
Started @ 1.3014
1st Peak @ 1.3027 – 2301 (1 min)
13 ticks

Reversal to 1.2991 – 2317 (17 min)
36 ticks

Notes: The reading came in over 3 points better than the forecast to mildly impress. This caused a 13 tick long spike on 1 bar that crossed no SMAs or Pivots, but extended the HOD by 7 ticks and was unsustainable, leaving 9 ticks of the wick naked. With JOBB you would have filled long at about 1.3018 with 1 tick of slippage. Look to exit with about 7 ticks as it peaks and backs off above the HOD. After the spike, the reversal took hold, yielding 36 ticks in 16 min, crossing all the major SMAs and the R2 Pivot. After