6E 12 12 (1 Min) 12.11.12

12/11/2012 German ZEW Economic Sentiment (0000 HI time / 0500 EDT)
Forecast: -11.4
Actual: 6.9
SPIKE/REVERSE
Started @ 1.2964
1st Peak @ 1.2979 – 0001 (1 min)
15 ticks

Reversal to 1.2958 – 0047 (47 min)
21 ticks

Notes: The reading came in over 18 points better than the forecast to impress. This caused a 15 tick long spike on 1 bar that crossed the R3 Pivot and extended the HOD by 13 ticks and was unsustainable, leaving 7 ticks of the wick naked. With JOBB you would have filled long at about 1.2968 with 1 tick of slippage. Look to exit with about 9 ticks as it crossed the R3 Pivot. After the spike, it pulled back, traded sideways for 45 min, then the reversal fell to 1.2958 for 21 ticks total. After that it trended higher about 90 min after the report.