2/4/2016 BOE Inflation Report (0700 EST)
Forecast: n/a
Actual: n/a
SPIKE WITH 2ND PEAK
Started @ 1.4600
1st Peak @ 1.4547 – 0700:09 (1 min)
53 ticks

Reversal to 1.4591 – 0700:25 (1 min)
44 ticks

Pullback to 1.4561 – 0701:08 (2 min)
30 ticks
Reversal to 1.4608 – 0704 (4 min)
47 ticks

2nd Peak @ 1.4530 – 0734 (34 min)
70 ticks

Reversal to 1.4642 – 0744 (44 min)
112 ticks

Expected Fill: 1.4586 (short)
Slippage: 8 ticks
Best Initial Exit: 1.4548 – 38 ticks
Recommended Profit Target placement: 1.4555 (just below the S1 Mid Pivot)

Notes: Nice spike of 53 ticks that hovered for 8 sec then reversed most of the way back to the origin in about 14 sec. Look to exit or reverse the trade on the hovering as this report is prone to sharp early reversals. It eventually sought a 2nd peak of 17 more ticks to the S1 Pivot before reversing 112 ticks as it crossed the 200 SMA / R1 Mid Pivot.