-072312.jpg "Click to enlarge")
7/23/2012 German Flash Manufacturing PMI (2130 HI time / 0330 EDT)
Forecast: 45.3
Actual: 43.3
Previous Revision: +0.3 to 45.0
SPIKE WITH 2ND PEAK
Started @ 1.2132 (2128)
1st Peak @ 1.2113 – 2129 (1 min)
19 ticks
Reversal to 1.2126 – 2132 (3 min)
13 ticks
2nd Peak @ 1.2100 – 2153 (25 min)
32 ticks
Reversal to 1.2130 – 2223 (55 min)
30 ticks
Notes: Report breaks 2 min early at 2128. The reading came in 2 points under the forecast to disappoint. This caused a 19 tick short spike over 1 bar that crossed the 200 SMA near the origin, then the 50/100 SMAs and PP Pivot about halfway down the bar. Crossing the many levels of support was too much at once as it reversed for 13 ticks on the following 3 bars back to the 100/50 SMAs. With JOBB you would have filled at about 1.2127 with 2 ticks of slippage. With all the levels of support crossed, look to exit at the end of the :29 bar with about 12 ticks. After the quick reversal, it fell again for the next 20 min to a 2nd peak of 32 total ticks, extending the LOD by 10 ticks. Then it reversed for 30 ticks in 30 min, see resistance at each SMA, and eclipsing the 200 SMA by about 6 ticks. After that it traded sideways stuck to the 200 SMA and PP Pivot.