6E 12 12 (1 Min) 11.13.12

11/13/2012 German ZEW Economic Sentiment (0000 HI time / 0500 EDT)
Forecast: -9.9
Actual: -15.7
SPIKE/REVERSE
Started @ 1.2686
1st Peak @ 1.2665 – 0001 (1 min)
21 ticks

Reversal to 1.2690 – 0042 (42 min)
25 ticks

Notes: The reading came in nearly 6 points worse than the forecast to mildly disappoint. This caused a 21 tick short spike on 1 bar that crossed the S3 Pivot and extended the LOD by 4 ticks and was slightly unsustainable, leaving 5 ticks of the tail naked. With JOBB you would have filled short at about 1.2681 with 2 ticks of slippage. Look to exit with about 12 ticks as it extended the LOD. After the spike, it retreated up, traded sideways for 30 min, then peaked at 1.2690 for 25 ticks.