6A 03 12 (1 Min) 09.19.11

9/19/2011 RBA Monetary Policy Meeting Minutes (1530 HI time / 2130 EST)
Forecast: n/a
Actual: n/a
SPIKE WITH 2ND PEAK
Started @ 0.9983
1st Peak @ 1.0029 – 1533 (3 min)
46 ticks

2nd Peak @ 1.0034 – 1538 (8 min)
51 ticks

Reverse to 0.9990 – 1603 (33 min)
44 ticks

Notes: Larger spike than normal. I normally look for 20-25 ticks on these trades, but the 1531 candle did not retreat much from its peak. This makes it worth waiting for to see what the follow on candles do. As it only retreated 2 ticks, I would wait for more. Seeing the 1533 candle, I would get out around 100.28. After a small retracement, the 2nd peak of 5 more ticks came at 1538, 5 min later. As the spike was larger than normal, the reversal took longer to develop, but eventually fell from 1551 to 1603. It continued to fall for another 30 min, but not likely due to the influence of this report.